February 10, 2020 / 8:05 AM / 18 days ago

Volatile rouble rebounds from two-month low

MOSCOW, Feb 10 (Reuters) - The Russian rouble rose 0.6% in early trade on Monday as traders closed weekend long positions in safe assets after the rouble hit a two-month low last week.

At 0739 GMT, the rouble was 0.6% stronger against the dollar at 63.74 and had gained 0.51% to trade at 69.8 versus the euro.

The rouble touched its lowest against the dollar in more than two months on Friday after the central bank cuts its key interest rate for the sixth consecutive month.

“The rouble will try to strengthen, including thanks to speculators closing long positions (in safe assets),” said Alexey Antonov from the Alor Broker.

Rouble volatility has increased amid a global increase in risk aversion after the coronavirus outbreak in China.

“On the whole, the rouble’s volatility in the coming days will still be very high. The range of fluctuations is still limited to 61.50-65.00 roubles to the dollar,” said Antonov.

Brent crude oil, a global benchmark for Russia’s main export, was down 0.18% at $54.37 a barrel.

Russian stock indexes were mixed.

The dollar-denominated RTS index was up 0.72% to 1,529 points. The rouble-based MOEX Russian index was 0.09% higher at 3,090 points.

For Russian equities guide see

For Russian treasury bonds see (Reporting by Tom Balmforth and Vladimir Abramov, Editing by William Maclean)

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