This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, June 20 Reuters The Russian rouble steadied on Monday near multiyear peaks, supported by capital controls, and may continue firming later this month due to monthend tax payments.

At 0758 GMT, the rouble eased 0.2 to 56.52 against the dollar and shed 0.5 to 59.18 against the euro , still hovering near its strongest level in nearly five years of 57.10 it hit in May.

The rouble, which became the world39;s bestperforming currency this year, is steered by Russia39;s high proceeds from commodity exports and a sharp drop in imports along with a ban on households withdrawing their foreign currency savings.

Top policymakers used Russia39;s annual economic forum in St. Petersburg last week to highlight the rouble39;s recent strength. There are concerns this could weigh on the economy as it tips into recession amid harsh sanctions over what Moscow calls a special military operation in Ukraine.

First Deputy Prime Minister Andrei Belousov said the rouble was overvalued and industry would be more comfortable if it fell to between 70 to 80 against the U.S. dollar.

Still, this week the rouble could extend gains as companies will need to pay taxes, for which exportfocused firms usually convert their dollar and euro revenues.

The dollar will consolidate within a range of 55.557.5 to the rouble during the day, Promsvyazbank analysts said in a note.

Russian stock…