Russian rouble firms past 62 vs dollar as tax payments loom

A picture illustration shows Russian rouble banknotes of various denominations on a table in Warsaw, Poland, January 22, 2016. REUTERS/Kacper Pempel/File Photo

May 19 (Reuters) – The Russian rouble firmed past 62 against the dollar on Thursday, propped up by capital controls as well as looming tax payments that usually require extra conversion of foreign currency to roubles to meet local liabilities.

The rouble has become the best-performing currency this year despite a full-scale economic crisis, artificially supported by controls that Russia imposed in late February to shield its financial sector after it sent tens of thousands of troops into Ukraine.

At 1320 GMT, the rouble gained more than 2% to 62.08 to the dollar on the Moscow Exchange , briefly hitting 61.72, its strongest since early 2020.

Against the euro,…