The ruble hovers near 73 against the dollar; focus on Friday’s pricing decision

MOSCOW, September 9 (Reuters) – The Russian ruble touched the 73 mark against the dollar on Thursday, treading water on the eve of a central bank rate decision and amid low risk appetite.

At 0741 GMT, the ruble was 0.1% weaker against the dollar at 73.18 RUBUTSTN = MCX and had lost 0.1% to trade at 86.54 against the euro EURRUBTN = MCX.

The ruble cut losses to recover from a low of more than a week on Wednesday following a successful government bond auction by the finance ministry. It could test 73 per dollar on Thursday, analysts at Promsvyazbank said in a note.

Support could also come from Russia’s central bank if it hikes rates on Friday, for the fifth time this year, in a bid to contain consumer inflation.

Annual inflation accelerated further in August to reach levels last seen in 2016, data showed Wednesday.

A Reuters poll released on Monday suggested the bank would rise 50 basis points to 7%, although many analysts predicted a 25 basis point increase.

Brent crude oil LCOc1, a global benchmark for Russia’s main export, fell 0.2% to $ 72.45 a barrel, pushing Russian stock indexes lower.

The RTS index in dollars .IRTS was down 0.6% to 1,716.9 points. The Russian MOEX index based on the ruble .IMOEX was down 0.7% to 3,986.2 points.

For the guide to Russian stocks, see EF / EQUITY

For Russian treasury bills, see 0 # RUTSY = MM

(Reporting by Alexander Marrow; editing by John Stonestreet)

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