Rouble eases towards 62 against dollar

Moscow: The Russian rouble weakened towards 62 against the dollar on Monday, steered by internal market flows and capital controls, while stock indexes extended losses after the latest Western sanctions.

At 0731 GMT, the rouble was 0.9 per cent weaker against the dollar at 61.46 , stabilising in the relatively narrow range of 60.0-62.5 in the past few days after rapid swings

in May.

Against the euro, the rouble shed 0.8 per cent to 65.31 , heading away from a near seven-year high of 57.10 hit on May 25.

The rouble on the Moscow Exchange is driven by capital controls that Russia imposed to protect its financial system soon after sending tens of thousands of troops into Ukraine on February 24.

The Russian currency remains much weaker at banks. VTB, Russia's second-largest lender, offered to sell cash dollars and euros for 84.00 and 89.00 rouble respectively.

Sanctions remain in focus. On Friday, EU countries agreed their sixth package of sanctions against Russia over what it calls a "special military operation" in Ukraine, including an import ban on all Russian seaborne crude oil and petroleum products in six to eight

months. Agencies