Russian Rouble maintains stability amid holiday thin trading

The Russian Rouble exhibited little change against the US Dollar and Euro on Monday, as thin trading prevailed with European and US markets closed for Christmas.

As of 0902 GMT, the Rouble held its ground against the Dollar at 92.01 and experienced a marginal 0.1 per cent dip, trading at 101.8 against the Euro.

Brent crude oil, a key benchmark for Russia's primary export, observed a 0.25 per cent decline, reaching $79.19.

Following the Rouble's recent slide to 100 against the Dollar in October, a presidential decree mandating exporters to convert a portion of foreign currency revenue has provided stability, complemented by sustained elevated interest rates.

In an interview with RBC media published on Monday, Governor Elvira Nabiullina stated that Russia's central bank would initiate foreign currency purchases if oil prices reach $88-$90 per barrel.

Russian stock indexes showcased positive momentum, with the Dollar-denominated RTS index rising by 0.55 per cent to 1,063.42. Simultaneously, the Rouble-based MOEX Russian index recorded a 0.43 per cent gain, reaching 3,105.77.

(With Reuters inputs.)