Russian rouble firms as oil prices recover

The Russian rouble strengthened on Monday during a long holiday weekend in Russia, helped by recovering oil prices.

At 0711 GMT, the rouble (RUBUTSTN=MCX) was 0.23% stronger against the dollar at 77.20 and had gained 0.13% to trade at 85.35 against the euro EURRUB.

The rouble soared on Friday, at one point gaining more than 2% on the day as it climbed to its highest against the dollar in more than a month, ahead of the long weekend. Russia celebrates Victory Day on May 9 marking the defeat of Nazi Germany in 1945.

Oil prices rose on Monday as fears of a recession in the United States, which drove prices down for three straight weeks for the first time since November, started receding.

Brent crude oil BRN1!, a global benchmark for Russia's main export, was up 0.94% at $76.01 a barrel.

Russian stock indexes were mixed. The dollar-denominated RTS index RTSI was up 0.12% at 1,034.88 points. The rouble-based MOEX Russian index IMOEX was 0.11% lower at 2,535.51.​