Russian rouble hovers near 91 vs dollar, supported by higher oil prices

The Russian rouble steadied near 91 to the dollar on Tuesday, supported by high oil prices and keeping in the same 90-91.5 band it has traded in for most of February.

At 0723 GMT, the rouble was 0.1% stronger against the dollar at 91.22 and was unchanged at 98.33 versus the euro. It had firmed 0.1% against the yuan to 12.59.

Brent crude oil, a global benchmark for Russia's main export, was up 0.4% at $82.32 a barrel, close to late January highs.

"In the coming days, the rouble will start to be supported by the upcoming tax period," Alor Broker's Alexei Antonov said.

Month-end tax payments usually see exporters convert foreign currency revenues to pay local liabilities.

The finance ministry has switched back to making FX purchases from sales in February, slightly reducing the overall daily sales the state makes and reducing some support for the rouble.

But the possible extension of capital controls requiring exporters to convert foreign currency revenue beyond April 30 could support the rouble. The central bank swiftly opposed the government's proposal for an extension last month, but the measure was supported by other key decision makers.

Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.2% to 1,123.3 points. The rouble-based MOEX Russian index was 0.1% higher at 3,252.1 points.