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Nabiullina also said the budget was a significant factor in Friday's decision. "It looks like today's interest rate hike front-loaded the tightening cycle in response to the fiscal announcements earlier this month," said Liam Peach, senior emerging markets economist at Capital Economics. The central bank's tightening cycle began this summer when inflationary pressure from a tight labour market, strong consumer demand and the budget deficit was compounded by the falling rouble. But the bank set its 2023 key rate range at 15-15.2%, suggesting rates could climb further and Nabiullina said that may be required. Sinara Investment Bank analyst Sergei Konygin said the lack of forward hawkish guidance meant it was highly likely the key rate had already reached its upper boundary.

Persons: Elvira Nabiullina, Nabiullina, Liam Peach, Dmitry Polevoy, Sergei Konygin, Vladimir Soldatkin, Elena Fabrichnaya, Alexander Marrow, Gareth Jones, Mark Trevelyan, John Stonestreet, Mike Harrison Organizations: Bank, Russia, Bank of Russia, Capital Economics, Reuters, Sinara Investment Bank, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, Locko, London

☆ Russian stocks retreat from pre-invasion high as rouble rebounds
▼ + stars: | 2023-08-14 | by ( Alexander Marrow | ) www.reuters.com time to read: +3 min

FILE PHOTO: A board showing currency exchange rates of the U.S. dollar and euro against Russian rouble is on display in a street in Moscow, Russia, August 12, 2023. By 1510 GMT, the rouble was 1% stronger against the dollar at 98.45 , firming back below the 100 threshold. Stocks on Monday briefly hit their highest since before Moscow launched what it calls a “special military operation” in Ukraine, before falling back. The rouble-based MOEX Russian index was 0.1% higher at 3,157.1 points. A trader at a large Russian bank told Reuters the market was confused: “Everyone is ready for the inflow of revenues from expensive oil, but it seems to be hanging somewhere, and our regulators are somehow indifferent, there is nothing to rely on.”

Persons: Evgenia, Vladimir Putin’s, ”, firming, Stocks, Yulia Goldina, ” Goldina, “, Brent Organizations: Reuters, U.S ., Russian, REUTERS, Investments, Sinara Investment Bank, BCS Locations: Moscow, Ukraine, Russia, Russian

First Deputy Prime Minister Andrei Belousov said demand for foreign currency had increased sharply in about 15 regions. "The rouble in the cash market sold off sharply on Saturday with buy/offer spreads widening out substantially," said Goldman Sachs in a note. "Should the response to the events over the weekend be additional spending, we think this would be followed by a weaker rouble." Rouble opens at 15-month low vs dollarInvestors globally were watching for ripple effects from the aborted mutiny, with some expecting a move into safe havens such as U.S. government bonds and the dollar. The rouble-based MOEX Russian index (.IMOEX) was 1.2% lower at 2,762.5 points.

Persons: Yevgeny Prigozhin, Vladimir Putin's, Andrei Belousov, Belousov, Alexey Antonov, Goldman Sachs, Rouble, Alexander Marrow, Karin Strohecker, Kim Coghill, Ed Osmond Organizations: rouble, Alor Broker, Brent, Sinara Investment Bank, Thomson Locations: Russian, Russia, Rostov, Moscow, Voronezh, Lipetsk, Alor

June 26 (Reuters) - The Russian rouble hit its lowest in nearly 15 months against the dollar on Monday before paring some losses, as investors responded for the first time to an aborted mutiny by heavily armed mercenaries in Russia over the weekend. By 0727 GMT, the rouble was 0.5% weaker against the dollar at 85.15 , after hitting 87.2300 in early trade, its weakest point since late March 2022. With the rouble not trading over the weekend, Russian banks had offered exchange rates well above the official rate beyond 90 to the dollar, but those were gradually easing as tensions subsided. Rouble opens at 15-month low vs dollarInvestors globally were watching for ripple effects from the aborted mutiny, with some expecting a move into safe havens such as U.S. government bonds and the dollar. The rouble-based MOEX Russian index (.IMOEX) was 1% lower at 2,767.9 points.

Persons: Yevgeny Prigozhin, Vladimir Putin's, Alexey Antonov, Rouble, Brent, Sinara, Alexander Marrow, Kim Coghill Organizations: Sinara Investment Bank, Thomson Locations: Russian, Russia, Rostov, Moscow, Alor, Washington

May 4 (Reuters) - The Russian rouble climbed to a more-than-one-month high on Thursday, gaining for a fifth straight session, as oil prices staged a partial recovery, countering the impact of reduced foreign currency supply. By 0923 GMT, the rouble was 1% stronger against the dollar at 78.44 , its strongest mark since April 3. The rouble has also benefited with a lag from high oil prices throughout April, which translates to higher export revenues for Russian exporters. Russian stocks are unlikely to see any serious buying interest before Russia's long weekend, said Sinara Investment Bank analysts. Geopolitics are partly to blame for Russian stocks' recent decline, while investors globally fear recession, hence the sustained drop in Brent, Sinara said.

☆ Russian rouble weakens ahead of Putin address to parliament
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

At 0732 GMT the rouble was 0.7% weaker against the dollar at 75.05 , edging closer to an almost 10-month low of 75.30 hit on Friday. The Russian currency had lost 0.5% to 80.04 versus the euro and was down 0.2% against the yuan at 10.89. The rouble is usually in greater demand before month-end taxes are due on Feb. 28, when exporters typically convert their foreign currency revenue. Nevertheless, oil prices remain high and the rouble should be supported by exporters in the final third of February, Kochetkov added. Banks, have also proved resilient, with lenders now jostling for business from the state and the country's big corporate players.

☆ Rouble edges higher after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down 12.5% this month after an oil embargo and price cap came into force. At 0711 GMT the rouble was 0.8% stronger against the dollar at 69.67 . Brent crude oil , a global benchmark for Russia's main export, was up 3.7% at $84.0 a barrel, giving Russian equities some support. The dollar-denominated RTS index (.IRTS) was up 0.1% at 964.1 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.4% to 2,132.1 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Volatile rouble recovers ground after biggest weekly slump since July
▼ + stars: | 2022-12-26 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

The rouble lost about 8% last week and is down over 10% this month after an oil embargo and price cap came into force. By 0748 GMT the rouble was 2.8% stronger against the dollar at 68.31 . Brent crude oil , a global benchmark for Russia's main export, climbed to a near three-week high in its final trading session before the Christmas break, last up 3.7% at $84.0 a barrel. The dollar-denominated RTS index (.IRTS) was up 2.1% at 983.4 points while the rouble-based MOEX Russian index (.IMOEX) gained 0.3% to 2,130.6 points. For Russian equities guide seeFor Russian treasury bonds seeReporting by Alexander Marrow Editing by David Goodman, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Rouble edges lower ahead of three OFZ treasury bond auctions
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

At 0802 GMT, the rouble was 0.1% weaker against the dollar at 61.52 and had lost 0.5% to trade at 61.80 versus the euro . The rouble has been buttressed in recent sessions by a month-end tax period when export-focused firms convert foreign exchange revenues into roubles to pay domestic tax liabilities. Russian stock indexes gained. The rouble-based MOEX Russian index (.IMOEX) was 0.1% higher at 2,133.6 points, its highest point since Sept. 23. For Russian equities guide seeFor Russian treasury bonds see($1 = 61.6000 roubles)Reporting by Alexander Marrow; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Russian rouble steady as exporters convert foreign currency
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

The Russian rouble opened 0.4% down against the U.S. dollar, trading at 61.91 at 0730 GMT. The month-end tax period prompts Russian exporters to convert their foreign currency earnings into roubles to make payments to the Russian treasury, typically boosting the domestic currency. Any upside, however, is likely to be limited by continuing discussions in Brussels over another package of sanctions on Russia, analysts added. The dollar-denominated RTS index (.IRTS) was down 0.1% at 1,026.5 points while the rouble-based MOEX Russian index (.IMOEX) was 0.4% up at 2,020.6 points. For Russian equities guide seeFor Russian treasury bonds seeRegister now for FREE unlimited access to Reuters.com RegisterEditing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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