March 13 (Reuters) -
The Russian rouble steadied close to a more than six-month
high against the dollar on Thursday as the market waited for the
next development on the Ukraine war after Kyiv said it was ready
to support Washington's 30-day ceasefire proposal.
The Kremlin said on Wednesday it would review details from
Washington about the proposed ceasefire in Ukraine before
responding, while U.S. Secretary of State Marco Rubio hoped a
deal would be struck within days.
By 0824 GMT, the rouble was up 0.8% at 86.45 to the
dollar in over-the-counter market trade. It had reached 85.1205,
its strongest level since August 7, 2024, on Tuesday.
Against the Chinese yuan, the most traded foreign currency
in Russia, the rouble was up 0.4% to 11.88.
The rouble is up against the dollar this year, mostly thanks
to expectations of improved relations between Moscow and
Washington.
The currency's strengthening could have some bearing on the
central bank when it next meets to set interest rates.
Anatoly Aksakov, head of the financial committee in Russia's
lower house of parliament, the State Duma, said he expected the
central bank to keep rates at 21% on March 21, with high
inflation preventing the central bank from being able to ease
borrowing costs.
"On the other hand, we see the rouble exchange rate is
strengthening and there are forecasts that it will strengthen
even further," Aksakov said at a financial forum on Thursday.
"Respectively, the political factor is influencing the fact that
the key rate may be lowered."
Brent crude oil LCOc1, a global benchmark for Russia's main
export, was up 0.4% at $71.22 a barrel.