The rouble firmed against the dollar and euro after a higher-than-expected interest rate hike, high oil prices, and exporters’ month-end tax payments.

The rouble has been under pressure since Wagner’s failed rebellion in June, and Russian infrastructure attacks have impacted risk appetite.

The Bank of Russia raised its key interest rate to 8.5%, but the rate adjustment barely affected the rouble.

Brent crude oil was down 0.7%, but higher than in May and June.

Exporters’ month-end tax period may boost the rouble.