MOSCOW: Russian ruble fell 1 percent against dollar to close at 57.88 and lost 0.6 percent to trade at 62.70 versus the euro.
Brent crude oil, a key driver for all Russian assets, was trading more than 1.5 percent down on the day at around $58.2 but was still more than 5 percent higher than at the start of the week.
The last major monthly tax, profit tax, falls due on March 30, and exporters are expected to sell hard currency on Friday to make the payments.
After the tax period ends, analysts say the ruble could weaken following gains of over 2 percent against the dollar this week, not least because it remains vulnerable to volatility in oil prices.
“With the end of regular forex sales as part of the tax period, there will appear clear factors for the ruble to weaken — the instability of oil and possible halt to the rally in OFZs (Russian treasury bonds),” analysts at Rosbank said in a note. Russian shares were also weaker on Friday, extending losses from the previous session.
