MOSCOW (Reuters – On Monday the Russian rouble rose to a record high of more than $33 per dollar, buoyed in part by higher oil prices, but constrained by concerns about a Russian invasion plan for Ukraine. Moscow denies these plans.

After touching the highest level since January 13th, 75.5825, the rouble rose 0.3% to 75.00 GMT.

The rouble remained stable at 0.6% against the euro to 86.43

Since its near-record low of 80.4125 last month, the rouble is now up from that point. This was after it was hit by fears of Russia’s intention to invade Ukraine. The West threatened to impose new sanctions on Moscow.

Markets will watch Monday’s meeting of President Vladimir Putin with his French counterpart Emmanuel Macron.

After speaking with Joe Biden, the President of America on Sunday in “coordination logic”, Macron will visit Moscow ahead of his talks with Putin.

This market keeps the central banking in mind. The Bank of Russia will likely raise its key rate to 8.5% on Friday as it continues fighting against stubbornly high inflation.

Higher rates help the rouble and make it more appealing to invest in rouble-denominated asset.

The price of, Russia’s primary export benchmark, fell 0.2% to $93.08 per barrel, but it traded close to its highs since 2014, when it was $94.00. [O/R]

Russian stock indexes increased.

Dollar-denominated RTS Index rose 1.5%, to 1,456.5 Points. At 3,499.3 point, the MOEX Russian index, which is based on roubles was 0.8% lower.

Sberbank shares rose 0.1% in the morning to 256.8 rubles ($3.39) per unit after it reported that the bank’s net profit increased nearly 16% to 100.2 million roubles in January according to Russian accounting standards.

For Russian equities guide see

Russian Treasury Bonds

($1 = 75.6701 roubles)