The Russian ruble extended gains on Thursday, helped by a modest retreat in the U.S. dollar on global markets and a strong rise in oil prices late on Wednesday.
At 07:50 GMT, the ruble was about 1.1 percent stronger against the dollar at 56.97 and was about 0.3 percent up on the euro at 61.77.
Brent crude oil, a key driver for all Russian assets, was 0.4 percent down on the day at about $56.9 a barrel but was trading higher than on Wednesday evening in Moscow.
Meanwhile, the dollar retreated about 0.4 percent against a basket of major currencies.
Trading volumes were thin ahead of an extended Easter holiday weekend on which many Western markets will be closed and as the market awaited U.S. payrolls data on Friday.
A forex trader said the ruble was also helped on Thursday by weaker demand for foreign currency than in recent weeks.
Russian shares were mixed on Thursday, with the direction of two major indexes reflecting moves in the ruble.
Russia's dollar-denominated RTS index was up 0.8 percent to 918 points, while its ruble-based peer MICEX traded 0.1 percent lower at 1,660 points.
Shares in the Moscow Exchange rose about 5 percent after the Central Bank said it did not plan to sell out of the exchange this year given recent geopolitical developments.1
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.