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Rouble falls further past 60 vs dollar, clipping two-week low

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This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, Oct 6 (Reuters) - The rouble weakened further past 60 to the dollar on Thursday having touched a two-week low in early trade, as a European Union plan for a price cap on Russian oil heightened risks that Russia's foreign currency inflows may decrease.

At 0821 GMT, the rouble was 0.3% weaker against the dollar at 60.36, after opening at 60.7775, its lowest mark since Sept. 22.

It was unchanged at 58.38 versus the euro, also clipping a two-week low in early trade, and shed 0.9% against the yuan to 8.65.

"Contributing to the weakness of the rouble against the dollar, euro and yuan, was the continuing low activity by exporters, as well as heightened market uncertainty," said Promsvyazbank analysts in a note.

Export-focused firms usually convert their FX revenues to roubles when local liabilities need paying. Russia's main tax period falls towards the end of the month.

Investors have fretted in recent weeks that new sanctions against Russia could restrict dollar and euro trading in Moscow. Those fears, that pushed the rouble to a near eight-year high against the euro, appear to have subsided for now.

"The depreciation of the rouble is linked to the removal, perhaps temporary, of risks of stopping organised euro and dollar trading in Russia due to Western sanctions," said Alor Broker analyst Alexei Antonov.

The European Union's latest sanctions package stopped short of seeking to restrict Moscow FX trading, but did include an oil price cap for Russian seaborne crude deliveries to third countries through European insurers.

Brent crude oil, a global benchmark for Russia's main export, was up 0.6% at $93.93 a barrel, after a group of major producing countries, including Russia, announced their largest supply cut since 2020 ahead of European Union embargoes on Russian energy.

Russian stock indexes were rising.

The dollar-denominated RTS index was up 0.6% to 1,068.2 points. The rouble-based MOEX Russian index was 0.9% higher at 2,048.2 points. (Reporting by Alexander Marrow; editing by Christian Schmollinger)