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Russian rouble edges up on higher oil prices, tax payments

Mon, 23rd Sep 2019 08:53

MOSCOW, Sept 23 (Reuters) - The Russian rouble edged higheragainst the U.S. dollar on Monday, supported by higher oilprices and as month-end tax payments prompted companies toconvert their foreign currency holdings to meet local duties.

At 0713 GMT, the rouble was 0.2% stronger against the dollarat 63.89 and had gained by 0.3% to trade at 70.31versus the euro.

"The Russian market appears stronger than other emergingmarkets on the backdrop of an increase in oil prices and aheadof tax payments of 1.1 to 1.4 trillion roubles," ING said in anote.

The rouble had reacted strongly to a surge in oil pricesearlier this month in the wake of an attack on Saudi crude oilfacilities, reaching its highest since July of 63.58 versus thedollar a week ago.

Oil prices rose more than 1% on Monday on doubts over howfast Saudi Arabia can fully restore its crude output after theattack.

Brent crude oil, a global benchmark for Russia'smain export, was up 0.8% at $64.80 barrel at 0651 GMT.

Russian stock indexes were down.

The dollar-denominated RTS index was down 0.3% to1,373 points, while the rouble-based MOEX Russian indexwas 0.3% lower at 2,787 points.

For Russian equities guide see

For Russian treasury bonds see(Reporting by Gabrielle Tétrault-Farber; Editing by SubhranshuSahu)

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