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Russian rouble firms on last tax payment day, stocks down
November 28, 2017 / 8:03 AM / 14 days ago

Russian rouble firms on last tax payment day, stocks down

MOSCOW, Nov 28 (Reuters) - The Russian rouble firmed slightly on Tuesday, the last day of a monthly tax payment period that usually prompts export-focused companies to sell dollars in order to meet local duties.

According to analysts polled by Reuters, companies need to pay up to 280 billion roubles ($4.79 billion) in income tax by the end of the day.

The rouble gained 0.2 percent to 58.40 versus the dollar as of 0746 GMT, moving towards its strongest level since early November of 58.04 it briefly hit on Monday before a short-lived sell-off.

Against the euro, the rouble added 0.2 percent to 69.43 .

A meeting of OPEC and non-OPEC members, including Russia, that will take place in Vienna on Thursday is in the market’s focus. The world’s major oil producers will discuss a possible extension of the global output cut.

“Concerns are mounting that a discord between Saudi Arabia and Iran could hamper the extension of production cap until the end of 2018,” BCS brokerage said in a note.

Brent crude oil, a global benchmark for Russia’s main export, was down 0.2 percent at $63.73 a barrel.

Russian stock indexes nodded lower after reaching local peaks overnight.

The dollar-denominated RTS index was down 0.7 at 1,152.9 points after hitting 1,170.46 on Monday, its highest since mid-February.

The rouble-based MOEX Russian index, previously known as MICEX, was down 0.4 percent at 2,138 points.

For rouble poll data see reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/fx-polls?RIC=RUB=

For Russian equities guide see

For Russian treasury bonds see

Russia in graphics: link.reuters.com/dun63s ($1 = 58.4000 roubles) (Reporting by Andrey Ostroukh)

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