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Russian rouble trades near 61 vs dollar ahead of OFZ auctions

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

MOSCOW, Nov 30 (Reuters) - The Russian rouble edged up against the dollar ahead of three government OFZ treasury bond auctions on Wednesday, boosted by higher oil prices, but weakened against the yuan amid hopes that COVID restrictions in China may be eased.

At 0753 GMT, the rouble was 0.1% stronger against the dollar at 60.95 and had gained 0.1% to trade at 63.13 versus the euro. It had shed 0.6% against the yuan to 8.52.

The yuan has been strengthening globally as investors bet signs of civil discontent in China could prompt an easing of strict COVID-19 curbs.

While the yuan has been making gradual inroads into Russia for years, the crawl has turned into a sprint in the past nine months as the currency swept into the country's markets and trade flows, according to a Reuters review of data and interviews with 10 business and finance players.

With China and Russia looking to forge closer ties on energy and financial transactions, further growth in yuan trading volumes on the Moscow Exchange is expected, Otkritie Research said in a note.

Russia has sharply increased its domestic borrowing in recent weeks after a months-long hiatus. The finance ministry will once again offer three papers at auctions later on Wednesday.

Brent crude oil, a global benchmark for Russia's main export, was up 1.2% at $84.0 a barrel.

Russian stock indexes dipped lower.

"Russian equities can be expected to eke out gains supported by a relative easing of geopolitical tensions and firm commodity prices," Alfa Bank equity strategist John Walsh said.

The dollar-denominated RTS index was down 0.2% to 1,126.3 points. The rouble-based MOEX Russian index was 0.3% higher at 2,179.2 points.

For Russian equities guide see

For Russian treasury bonds see (Reporting by Alexander Marrow; Editing by Andrew Heavens)

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