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At
1050 GMT, the rouble gained 1.9% to 58.97 against the euro, its
strongest level since May 25..
Against the dollar, the rouble was unchanged at 56.81 close to
multi-year peaks, supported by capital controls that Russia
imposed in late February after sending tens of thousands of
troops into Ukraine.
After the rouble became the world's best-performing
http://fingfx.thomsonreuters.com/
gfx/rngs/GLOBAL-CURRENCIES-PERFORMANCE/
0100301V041/index.html currency, authorities eased capital
controls and scrapped a requirement for export-focused companies
to convert their foreign-currency revenues.
The central bank's decision to cut its key rate to the
pre-crisis level of 9.5% last week should also ease upside
pressure on the rouble.
The rouble strengthening dents incomes of exporters and Russia's
budget but is beneficial for importers, making foreign goods and
services cheaper. However, Russian imports have waned
drastically due to unprecedented western sanctions and disrupted
logistics chains.
Sberbank CIB analyst Yuri Popov said higher foreign exchange
sales by exporters in order to meet domestic tax obligations
were supporting the rouble on Tuesday. Hard currency savings
have also "started losing their appeal as Russian banks
introduced fees for servicing accounts in currencies of
'unfriendly' countries," Popov added in a research note.
The Moscow Exchange said on Tuesday it would suspend trading the
Swiss Franc against the U.S. dollar and the rouble due to the
sanctions Switzerland has imposed on Russia from June 10.
Russian stock indexes were up slightly after starting the day
weaker.
The dollar-denominated RTS index was up 0.2% at 1,270.7 points,
after slumping 2% in early morning trading. The rouble-based
MOEX Russian index gained 0.3% to 2,292.5 points.
(Reporting by Reuters, editing by Ed Osmond and Tomasz Janowski)
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