MOSCOW: The Russian rouble was steady on Wednesday as ongoing tax payments outweighed the negative impact of lower oil prices. At 0727 GMT, the rouble was 0.1 percent weaker against the dollar at 59.14 and eased 0.1 percent to 69.59 versus the euro. “Summer siesta with little volatility is under way on the Russian debt and foreign currency market,” Rosbank, a subsidiary of Societe Generale, said in a research note. This offset another escalation of geopolitical tensions. The United States imposed new sanctions against a Russian-owned entity and four individuals over their role in supporting North Korea, prompting Moscow to promise a retaliation.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.5 percent at $51.6 a barrel, putting moderate pressure on Russian assets. Shares in Sberbank, Russia’s largest lender, were up 0.1 percent after it reported a record high quarterly net profit for April-June. Sberbank’s performance was in line with the broader market. The rouble-based MICEX index inched 0.1 percent higher at 1,949.1, while the dollar-denominated RTS index was down 0.1 percent at 1,038.4 points.
