(Updates prices, adds BCS comment)<\/p>\n
MOSCOW, March 9 (Reuters) – The Russian rouble firmed past 88 against the euro to a six-month high on Tuesday, supported by rising oil prices, but restrained by the lingering threat of more sanctions against Moscow.<\/p>\n
By 1254 GMT, the rouble had gained 0.5% against the euro to 87.99, earlier hitting 87.8700, its strongest mark since Sept. 2, 2020.<\/p>\n
Against the dollar, the rouble strengthened 0.3% to 73.99.<\/p>\n
Brent crude oil, a global benchmark for Russia\u2019s main export rose 0.8% to $68.67 a barrel.<\/p>\n
The rouble should remain between 73 and 75 against the greenback in the near future, BCS Global Markets in a note, as geopolitical risks weigh on the Russian currency despite rising oil prices.<\/p>\n
The Kremlin on Tuesday said it was alarmed by a report in the New York Times that said the United States was planning a series of covert counterstrikes on Russian networks in response to the hacking of SolarWinds software that U.S. officials say was conducted by Russia, something Moscow denies.<\/p>\n
Riskier assets gained support on Monday after U.S. Treasury Secretary Janet Yellen said President Joe Biden\u2019s coronavirus aid package would provide enough resources to fuel a \u201cvery strong\u201d U.S. economic recovery, and noted \u201cthere are tools\u201d to deal with inflation.<\/p>\n
However, revised data on Tuesday showed a deeper euro zone economic contraction than previously thought in the fourth quarter of 2020.<\/p>\n
Finance Minister Anton Siluanov on Tuesday said Russia may cut its planned borrowing this year due to better-than-expected budget revenues and could be able to keep the state\u2019s debt to gross domestic product ratio at no more than 20% over three years.<\/p>\n
Russian stock indexes were higher.<\/p>\n
The dollar-denominated RTS index was up 2.3% at 1,481.2. The rouble-based MOEX Russian index grew by 1.9% to 3,478.8.<\/p>\n
For Russian equities guide see<\/p>\n
For Russian treasury bonds see<\/p>\n