Russia c.bank buys $700 mln to stem rouble rise

MOSCOW Nov 10 (Reuters) - Russia's central bank on Tuesday shifted its intervention bid level after buying $700 million on the forex market to stem the appreciation of the national currency, dealers said.

The regulator moved its intervention bid level to 35.15 roubles per euro/dollar basket RUS=MCX, used for guiding the rouble's nominal exchange rate policy, from the previous 35.20, dealers said.

At 0723 GMT, the rouble traded at 35.16 against the basket, 5 kopecks stronger from Monday's close at 35.21.

The rouble has firmed by more than 8.5 percent against the basket since its rally began in early September, recovering half of its losses incurred during gradual depreciation a year ago.

Strong oil prices and global weakening of the dollar support the rouble's rally.

(Reporting by Andrei Ostroukh; writing by Lidia Kelly)