Russian rouble little changed in sluggish trading

The Russian rouble has been broadly steady against the U.S. dollar and euro on Tuesday in thin trading, with the European and U.S. markets closed for Christmas.

At 0932 GMT, the rouble edged up 0.08% against the dollar at 91.68 RUBUTSTN=MCX and was steady at 101 versus the euro EURRUBTN=MCX.

Brent crude oil LCOc1, a global benchmark for Russia's main export, was also flat, at $79.02 as investors focused on conflict in the Middle East and optimism the U.S. Federal Reserve would soon start cutting interest rates, lifting global economic growth and fuel demand. O/R

“The rouble is gradually strengthening... It looks like the demand for foreign currency is insignificant, while the exporters are selling quite a big chunk of revenues before the tax payments,” a Sberbank analyst wrote in a note.

Since October and the rouble's most recent slide to 100 against the dollar, a presidential decree forcing exporters to convert some foreign currency revenue has provided support, as have elevated interest rates.

Russian stock indexes declined.

The dollar-denominated RTS index .IRTS was down 0.29% at 1,060.55. The rouble-based MOEX Russian index .IMOEX slid by 0.42% to 3,086.30.