Russian rouble gains, moves away from weakest since April

Updates with rouble recovery

MOSCOW, Sept 22 (Reuters) - The Russian rouble reversed earlier losses and firmed on Tuesday, heading away from levels last seen in April against the dollar, as lower risk appetite on emerging markets continued.

The rouble took a hit recently from fears of fresh sanctions against Russia due to the crisis in neighbouring Belarus and the poisoning of Kremlin critic Alexei Navalny. Moscow denies any wrongdoing.

At 1144 GMT, the rouble was 0.4% stronger against the dollar at 75.82RUBUTSTN=MCX, moving from 76.5950, its lowest level since April which it hit earlier in September. Versus the euro, the rouble gained 0.5% to 89.14 EURRUBTN=MCX.

It had been as strong as 70 versus the euro and 61 against the dollar in early 2020.

The rouble was expected to receive some support from month-end tax payments that usually prompt export-focused companies to convert their dollar and euro revenues into roubles to meet local liabilities.

President Vladimir Putin is in focus as he is due to deliver a video address at the United Nations.

"Putin's messages traditionally have a material impact on the Russian market perception by overseas institutional investors," Alfa Bank said in a note.

Markets also watched the finance ministry that was set to reveal details of weekly OFZ government bond auctions due on Wednesday. Such auctions are usually seen as a gauge of demand for Russian assets and sometimes buttress the rouble.

Brent crude oil LCOc1, a global benchmark for Russia's main export, was up 1% at $41.83 a barrel, after sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases. O/R

Russian stock indexes were up following a steep fall on Monday.

The dollar-denominated RTS index .IRTS rose 2% to 1,205.3 points. The rouble-based MOEX Russian index .IMOEX was 1.3% higher at 2,901.1 points.

For Russian equities guide see RU/EQUITY

For Russian treasury bonds see 0#RUTSY=MM

(Reporting by Andrey Ostroukh, editing by Ed Osmond and Chizu Nomiyama)

((andrey.ostroukh@thomsonreuters.com; +7 495 775 1242;))

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