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Russian rouble down vs dollar as oil dips lower
November 20, 2017 / 8:28 AM / in 22 days

Russian rouble down vs dollar as oil dips lower

MOSCOW, Nov 20 (Reuters) - The Russian rouble weakened against the dollar on Monday due to a slide in oil prices and was steady versus the euro as political crisis in Germany has put pressure on the European currency.

At 0746 GMT, the rouble was 0.32 percent weaker against the dollar at 59.26

Brent crude oil, a global benchmark for Russia’s main export, was down 0.32 percent at $62.52 a barrel.

Chancellor Angela Merkel said on Monday her efforts to form a three-way coalition government had failed, thrusting Germany into a political crisis and pushing Europe’s largest economy closer to a possible new election.

The rouble slightly firmed against the euro in early trade but then had lost 0.1 percent to trade at 69.70 versus the euro .

The market awaits data from the Russian statistics service on unemployment, real wages and retail sales that could shed light on the shape of the economy. The data are due at 1300 GMT on Monday.

Downside pressure on the rouble is expected to be limited by month-end tax payments that usually prompt export-focused companies to convert part of their dollar revenues to meet local liabilities.

In the next few days investors’ attention is likely to be focused mostly on political news, such as the debate about the tax reform in the United States and the situation in Germany, analysts at Rosbank said in a note.

Russian stock indexes inched higher.

The dollar-denominated RTS index was up 0.12 percent to 1,134 points, while the rouble-based MICEX gained 0.14 percent to 2,135 points.

Shares in Russian retailer shares Dixy Group underperformed, losing more than 3 percent on the day, as the company said it considered de-listing.

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 (Reporting by Polina Nikolskaya; Editing by Andrey Ostroukh and Peter Graff)

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