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UPDATE 2-Russian taxes give rouble rally fresh momentum

Published 03/12/2010, 10:38 AM
EUR/RUB
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* Rouble sets new 14-mth peaks vs basket, dollar

* Exporters add momentum

* C.bank sticks by intervention policy

(Adds details, background, quotes)

By Andrei Ostroukh and Olga Borodina

MOSCOW, March 12 (Reuters) - The Russian rouble scaled fresh 14-month peaks on Friday, shrugging off modest central bank interventions and getting fresh momentum as exporters started to sell foreign currency in preparation for tax payments.

"For now, everything is in a light euphoria," said Viktor Anisimov, dealer at Alba Alyans. "Foreigners are coming."

The rally -- fanned by rising oil prices and increased investor appetite for high-yielding emerging markets -- has raised speculation of bigger interventions or rate cuts from the central bank, but so far officials have remained silent.

"We do not think that the central bank will change the model of its behaviour, at least not in the next few days," said Ilya Ilin, an analyst at Nomos Bank.

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