MOSCOW, July 25 Reuters The Russian rouble edged lower against the dollar in a jittery start to Moscow trade on Monday, adjusting to the central bank39;s decision to slash interest rates on Friday, and as a roublesupportive taxpayment period reaches its peak.
At 0730 GMT, the rouble was 0.2 weaker against the dollar at 57.39 and had gained 0.3 to trade at 58.13 versus the euro.
The rouble lost ground on Friday after Russia39;s central bank cut its key interest rate by a biggerthanexpected 1.5 percentage points to 8.0 and said it would study the need for more cuts as inflation slows and an economic contraction continues for longer than previously thought.
Freedom finance analysts on Monday said the rouble would likely trade in the 5557 range against the dollar.
The rouble39;s weakening after the rate cut will be shortlived, in our view, they said.
The rouble has become the world39;s strongestperforming currency so far this year, boosted by measures including restrictions on Russian households withdrawing foreign currency savings taken to shield Russia39;s financial system from Western sanctions imposed after Moscow sent troops into Ukraine on Feb. 24.
Before Feb. 24, the rouble traded near 80 to the dollar and 85 to the euro.
The rouble39;s strength has concerned officials as it dents Russia39;s income from exports of commodities and other goods priced in dollars and euros. The central bank has eased some restrictions, but many capital controls remain in place….