The Russian rouble steadied on Tuesday, a day after new capital controls on exporters' sales of foreign currency revenues came into force and as a favourable month-end tax period approached.
At 0800 GMT, the rouble was steady at 97.36 against the dollar and had lost 0.2% to trade at 102.74 versus the euro. It was unchanged against the yuan at 13.29.
From Monday, 43 groups of exporting firms are required to deposit no less than 80% of foreign currency earnings with Russian banks and then sell at least 90% of those proceeds on the domestic market within two weeks, the government said on Friday.
The rouble jumped about 3% in one session last week after President Vladimir Putin signed a decree mandating the reintroduction of capital controls similar to those imposed shortly after Russia invaded Ukraine in February 2022.
Moscow has said it will not publish the list of companies affected.
The rouble should strengthen mildly as Russia's month-end tax period approaches, said Alor Broker's Alexei Antonov, which he said could be this year's record in terms of payments.
Month-end tax payments usually support the rouble as exporters tend to convert foreign currency revenues to pay domestic liabilities.
Brent crude oil, a global benchmark for Russia's main export, was up 0.3% at $89.87 a barrel.
Russian stock indexes were higher.
The dollar-denominated RTS index was up 0.1% to 1,047.8 points. The rouble-based MOEX Russian index was 0.1% higher at 3,237.7 points.
Shares in retailer Lenta were up 2%, outperforming the wider market, after it said it had acquired the Monetka chain of 2,120 convenience stores for an undisclosed sum in a deal financed by cash and debt.
