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

MOSCOW, June 29 (Reuters) – The ruble offset gains in volatile trade on Wednesday as Russia’s finance minister hinted at possible measures to ease upward pressure on the currency as it approached 50 against the dollar for the first time since May. of 2015. The ruble became the world’s best-performing currency this year, boosted by measures – including restrictions on Russian households withdrawing foreign currency savings – taken to shield the Russian financial system from Western sanctions imposed after the US-led invasion. on February 24th. The strong ruble has raised concerns among officials and export-oriented companies as it cuts Russia’s income from selling goods and other goods abroad for dollars and euros. Sign up now for FREE unlimited access to Reuters.com Register Many Russian companies, mainly non-oil and gas exporters, are already suffering financially, said Evgeny Suvorov, an economist at CentroCreditBank. Finance Minister Anton Siluanov said Russia could cut government spending and channel funds in foreign currency to keep a cap on the ruble boost that threatens budget revenues. read more The ruble fell after the comment and was 0.4% weaker on the day at 52:00 against the dollar at 1154 GMT after reaching 50.01. Revenues from exports of goods, a sharp drop in imports and tax payments at the end of the month in rubles from Russian export-oriented companies are other factors behind the currency’s gains. “The ruble (is) to fall in the coming days … With the main tax payments of the month now in the mirror, hard currency buyers can start intervening,” Sberbank CIB said in a note. The ruble has risen almost 44% year-on-year on the Moscow Stock Exchange, but remains much weaker in banks. VTB (VTBR.MM), Russia’s No. 2 bank, offered to sell dollars and euros in cash at 63.45 and 67.85 respectively. Deputy Prime Minister Andrei Belusov said this month that the industry would be more comfortable if it fell between $ 70 and $ 80. Against the euro, the ruble was 0.6% stronger at 54.20, having climbed above 53 earlier for the first time since April 2015. Capital controls have allowed the currency to repel what the White House and Moody’s said Monday was the first bankruptcy by Russia in more than a century for its international bonds. read more The Kremlin, which has a hard currency from oil and gas revenues to make scheduled debt payments, has rejected the designation, calling it artificial and made by Western sanctions. Shortly before Russia launched what it calls its “special military operation” in Ukraine, the ruble was trading at close to $ 80 and $ 90 against the euro. At the time it was trading in free-float mode and, without support from capital controls, fell to the hammer due to fears of sanctions. On the stock exchange, the RTS index in dollars (.IRTS) fell 1.1% to 1,449.1 points. The Russian ruble-based MOEX index (.IMOEX) fell 1% to 2,384.5 points. Sign up now for FREE unlimited access to Reuters.com Register Report by Reuters. edited by John Stonestreet, Angus MacSwan and Emelia Sithole-Matarise Our role models: The Thomson Reuters Trust Principles.