MOSCOW: The Russian rouble climbed on Monday to its strongest level since August, posting a rare intraday gain of more than 1 percent versus the dollar reflecting month-end tax payments and higher oil prices.

The rouble firmed to 64.16 against the dollar by 1217 GMT , hovering at a level last seen on Aug. 8.

The currency's advance gained pace in thin trade this month after the dollar slipped below a strong technical resistance level of 65.

"The rouble has generally been outperforming EM (emerging market) currencies in recent weeks, showing one of the best results during risk-on periods, while depreciating only slightly during risk-off ones," analysts at Sberbank CIB said in a note.

"It is currently enjoying strong macro (economic) advantages, while it seems that the sanctions risk is being almost disregarded," the analysts said, adding that the geopolitical risk in the rouble had fallen to its lowest level since August.

The rouble is also seeing support from month-end tax payments that usually prompt export-focused companies to convert their foreign currency to meet local liabilities.

Versus the euro, the rouble gained 0.7 percent to 72.91 , also its strongest level since August.

The rouble got a boost this month from strong foreign demand for Russian OFZ treasury bonds. Last week, more than half of the demand for the bonds had come from investors abroad, while the volume of bonds sold by the finance ministry reached an all-time high.

The central bank is in focus this week as it is set to hold a board meeting on Friday where it is widely expected to keep the key interest rate at 7.75 percent.

"We think that the upcoming week will be positive for the rouble," Rosbank said in a note. "The expected first signals from the central bank towards a softening of its policy at its meeting on Friday will support demand for Russian assets."

Prices for Brent crude oil, a global benchmark for Russia's main export, rose slightly on Monday after slipping earlier due to concerns that an economic downturn could dent fuel consumption. But crude markets remain supported by supply cuts by OPEC and U.S. sanctions against Iran and Venezuela.

Russian stock indexes were mixed having gained last week.

The dollar-denominated RTS index was up 1.8 percent at 1,217.84 points. The rouble-based MOEX Russian index was up 0.2 percent at 2,480.8 points.