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Rouble retreats from two-week high, adjusting to oil price swings


Reuters


MOSCOW, June 13 (Reuters) - The Russian rouble weakened on Thursday, falling from a two-week high it reached earlier this week as traders were pricing in a drop in oil prices on Wednesday, when the Moscow Exchange was closed for a public holiday.

At 0732 GMT, the rouble was 0.1% weaker against the dollar at 64.63 , weaker than Wednesday's 64.45. Versus the euro, the rouble gained 0.2% to 73.00 .

The market closely watched oil prices, which surged on Thursday after two tankers apparently were attacked in the Gulf of Oman near the Iranian coast.

The rouble fell after Wednesday's sell-off on the crude market, but decline could be limited by upcoming tax payments and companies' need to pay dividends, said Dmitry Polevoy, chief economist at Russian Direct Investment Fund.

The Russian central bank is set to meet on interest rates on Friday. A Reuters poll predicted a 25-basis-point cut to the key rate to 7.50%.

Russian stock indexes were down. The dollar-denominated RTS index shed 0.4% to 1,337.5 points. The rouble-based MOEX Russian index was 0.3% lower at 2,742.3 points.






This article appears in: Stocks , World Markets , Politics , Oil



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