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MOSCOW - The Russian rouble steadied near 97.5 to the dollar on Friday, locking in the hefty gains made in the previous session after President Vladimir Putin ordered the mandatory sale of foreign currency revenues for some exporters to support the currency.
At 0750 GMT, the rouble was 0.1% weaker against the dollar at 97.51, having climbed over 3% to a more than two-week high of 96.4550 in the previous session.The Kremlin on Thursday said it would not disclose the list of companies affected by the controls. "We'll risk suggesting that in the short term the rouble has good chances of strengthening even below 95 roubles per dollar, however in the long-term, the Russian currency still looks weak due to large budget expenditures and the huge need for imports."
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