Ruble Gains Against Euro on Gas Payments: Inside Russia

Russia’s currency poised to advance against euro to highest level in three weeks amid new payments for Russia’s gas by European customers.

* Ruble strengthens 1.2% versus euro to 59.0650, may close the session at maximum since May 24

** Rises 0.2% against dollar to 56.8750

* “Usually payments for gas and oil come closer to the second half of each month”, Iskander Lutsko, strategist at ITI Capital in Moscow, said by phone

** Ruble will resume weakening due to further easing of capital controls, as announced by central bank Governor Elvira Nabiullina, he added

** “I think she is talking primarily about restrictions on cash and non-cash transactions”

** NOTE: Nabiullina said at St. Petersburg International Economic Forum on Thursday that most of the current restrictions on FX-operations should be lifted

* 10-year benchmark ruble bond yields -8 bps to 9.03%

* Russia’s MOEX Index +1.3% to 2,349.33

* Brent crude +0.2% to $118.69 per barrel

16.06.2022
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