Ruble Weakens 2nd Day to Central Bank Basket as Tax Period Ends

Ruble drops 0.3% to 35.0164 against basket by 7pm in Moscow, weakens less than 0.1% to 31.0535 against dollar.

  • “Positive impact of oil prices will be leveled out by declining export revenue sale after today’s corporate income tax payment,” analysts at OAO Rosbank led by Vladimir Kolychev said in a note to clients
  • Russia’s monthly tax period ends today with 600 billion rubles of payments due, according to Gazprombank estimates
  • Oil gains 0.2% to $96.80/bbl in NY

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