Russian rouble stable vs US dollar despite oil price fall
MOSCOW, June 24 (Reuters) - The Russian rouble was stable against the U.S. dollar on Tuesday despite prices for oil, Russia's main export commodity, tumbling to a two-week low on what the market viewed as a lower risk of supply disruptions in the Middle East.
By 0830 GMT, the rouble RUB= was up by 0.16% at 78.37 per U.S. dollar, according to LSEG data based on over-the-counter quotes. The Russian currency is up by about 45% against the dollar since the start of the year.
Analysts said the rouble was supported by foreign currency sales by the state as well as by exporting companies, which are buying roubles to pay their corporate taxes at the end of the month.
Against the Chinese yuan, the most traded foreign currency in Russia, the rouble weakened sharply at the start of the trading session but then rebounded to trade 0.6% down at 10.93 per yuan on the Moscow Stock Exchange.
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