Russian Rouble maintains stability amid holiday thin trading

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

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

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

Following Rouble's recent slide to 100 against 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, Goverr 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 Dollar-deminated RTS index rising by 0.55 per cent to 1,063.42. Simultaneously, Rouble-based MOEX Russian index recorded a 0.43 per cent gain, reaching 3,105.77.

(With Reuters inputs.)