# Russian rouble opens flat, sticks to 60-mark against U.S. dollar
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-08-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Russian rouble holds steady as month-end tax payments keep it hovering near benchmark 60-level
Meta Description: The Russian rouble remains stable as month-end tax payments support the currency, while Russian stock indexes see minor fluctuations. Stay informed with
URL: https://financedigest.com/russian-rouble-opens-flat-sticks-to-60-mark-against-u-s-dollarhtml

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(Reuters) – The Russian rouble opened flat in trading on Friday as month-end tax payments by exporters helped keep the currency hovering around the benchmark 60-level against the U.S. dollar.

The Russian [currency was unchanged against the dollar](https://www.financedigest.com/u-s-dollar-advances-vs-major-currencies-as-risk-appetite-fades.html "U.S. dollar advances vs major currencies as risk appetite fades") at 60.13 at 0723 GMT, and had slipped 0.3% against the euro to trade at 59.74.

The rouble has been the world’s best performing currency this year, buoyed by emergency capital controls rolled out by the [central bank](https://www.financedigest.com/dollar-skulks-at-eight-month-low-central-bank-meetings-in-focus.html "Dollar skulks at eight-month low, central bank meetings in focus") in a bid to halt a mass sell-off.

Analysts said month-end tax payments, which usually [see Russia’s exporters converting their foreign currency earnings into roubles to pay](https://www.financedigest.com/uk-employers-see-slight-fall-in-pay-awards-over-2023-xperthr.html "UK employers see slight fall in pay awards over 2023 – XpertHR") to the treasury, was supporting the rouble this week.

[Russian stock](https://www.financedigest.com/oil-gains-as-russian-supply-cuts-temper-concerns-over-rate-hikes-high-stocks.html "Oil gains as Russian supply cuts temper concerns over rate hikes, high stocks") indexes saw more movement, with the dollar-denominated RTS index shedding 0.5% in the first minutes of trading in Moscow, dipping to 1,177.1 points. The rouble-based MOEX Russian index was flat at 2,246.2 points.

There were few drivers of movement for either the [Russian currency or stocks](https://www.financedigest.com/russian-rouble-firms-towards-60-vs-dollar-stocks-up.html "Russian rouble firms towards 60 vs dollar, stocks up") expected on Friday, Zarina Saidova, an analyst at the Moscow-based Finam brokerage said.

Trading volumes are very low due to the [holiday season](https://www.financedigest.com/hasbro-ramps-up-toy-supply-for-holiday-season-to-beat-shipping-delays.html "Hasbro ramps up toy supply for holiday season to beat shipping delays"). Meanwhile, the external background is not so bad – optimism prevails in the U.S. and [European markets,”](https://www.financedigest.com/explainer-why-european-money-market-funds-inflows-are-lagging-behind-the-u-s-torrent.html "Explainer-Why European money market funds inflows are lagging behind the U.S. torrent?") she said, adding markets were largely on pause as they await comments by U.S. Federal Reserve Chairman Jerome Powell at [Jackson Hole](https://www.financedigest.com/take-five-taking-in-the-vistas-from-jackson-hole.html "Take Five: Taking in the vistas from Jackson Hole") later today.


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