MOSCOW, Dec.23 (Reuters) – The ruble hit its highest level in more than a month against the dollar on Thursday, ahead of President Vladimir Putin’s annual press conference, amid lingering concerns over a standoff between Russia and the West on Ukraine’s NATO aspirations.

At 0901 GMT, the ruble was up 0.6% against the dollar at 73.29, reaching 73.1850 earlier, its highest value since November 22.

It gained 0.8% to trade at 82.89 against the euro, a more than a week high.

Russia has moved tens of thousands of troops near its border with Ukraine, but has rejected Ukrainian and US accusations that it could invade as early as next month, while saying it would be forced to act if the Western powers do not cease military cooperation with its neighbors. Read more

“On the geopolitical front, the West and Russia are holding out, even intensifying the war of words; however, the headlines have brought a silver lining – the United States has signaled its willingness to start talks with Russia next month, ”BCS Global Markets said in a note. Read more

Risk appetite has also improved, with investors more optimistic about the global economic recovery after Wednesday’s data showed a better-than-expected increase in U.S. consumer confidence and some concerns about the severity of the downturn. the variant of the Omicron coronavirus have attenuated. Read more

The ruble could test the level of 73 against the greenback on Thursday, analysts at Promsvyazbank said. A fiscal period that typically prompts export-oriented companies to convert their foreign exchange earnings into rubles to meet local debts also supports the currency, they said.

Brent crude oil, a global benchmark for Russia’s main export, fell 0.3% to $ 75.10 a barrel after hitting a 10-day high.

Russian stock indices were mixed.

The RTS index (.IRTS) denominated in dollars was unchanged at 1,602.0 points. The ruble-based Russian MOEX index (.IMOEX) was down 0.5% to 3,726.7 points.

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Reporting by Alexander Marrow; Editing by Subhranshu Sahu

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