Oct 9 Reuters The rouble rebounded after slumping to a more than 18month low against the dollar on Monday in a volatile session, still hampered by reduced foreign currency supply but eventually latching on to higher oil prices to gain ground.

Events in the Middle East were hurting risk appetite. The Israeli military called up 300,000 reservists, two days after Hamas fighters killed hundreds of Israelis and seized dozens of hostages in a raid that shattered Israel39;s reputation of invincibility.

By 1500 GMT, the rouble was 0.7 stronger against the dollar at 99.75 , recovering from hitting 102.3450 earlier, its weakest point since March 23, 2022. The Russian currency tumbled to a record low 121.5275 in the weeks after Moscow39;s February 2022 invasion of Ukraine.

The rouble had gained 0.5 to trade at 105.24 versus the euro and firmed 0.6 against the yuan to 13.64 .

The rouble39;s last tumble into triple digits in August led the Bank of Russia to make an emergency 350 basispoint rate hike to 12 and authorities to discuss reintroducing controls to buttress the currency, but interventions verbal or otherwise have been more limited this time around.

Rates were lifted to 13 in September and analysts polled by Reuters expect the central bank to hike again on Oct. 27, with persistent rouble weakness among the factors limiting Russia39;s longterm growth prospects.

Brent crude oil , a global benchmark for Russia39;s main export, was up 3.9 at 87.85 a barrel, lifted by the…