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Rouble flat amid political tensions lower oil prices

Reuters

MOSCOW, Sept 5 (Reuters) - The rouble was broadly unchanged on Tuesday, shrugging off lower oil prices and political tensions over North Korea.

Pyongyang on Sunday conducted its sixth and most powerful nuclear test, marking an escalation of the regime's stand-off with the United States and its allies.

South Korean officials believe more missile launches are planned and have said an agreement with the United States to scrap a weight limit on their warheads will help counter the threat.

At 0753 GMT, the rouble had fallen 0.02 percent to trade at 57.86 against the dollar and gained 0.1 percent to trade at 68.71 versus the euro.

Brent crude oil, a global benchmark for Russia's main export, was down 0.29 percent at $52.19 a barrel.

VTB analysts said they saw the rouble trading at average of 59.00 to the dollar throughout September "assuming stable oil and no changes in global risk sentiment.

"We think that at current levels there might still be some room for further rouble appreciation, but overall, given our assumptions, the rouble is quite close to its fundamentally fair levels," they said in a note.

Russian share indexes rose.

The dollar-denominated RTS index was up 0.12 percent to 1,093.100 points, while the rouble-based MICEX was 0.22 percent higher at 2,007.68 points.

Russia in graphics:



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