June 23 (Reuters) - The Russian rouble strengthened on Friday, shrugging off a sharp drop in oil prices thanks to an upcoming month-end tax period that tends to increase foreign currency supply.
At 0811 GMT the rouble was 0.3% stronger against the dollar at 83.78 and had gained 1.2% to trade at 91.11 versus the euro. It had firmed 0.4% against the yuan to 11.60.
The rouble weakened around 2% against the dollar last week, hitting a more than 14-month low, blighted by volatile swings in a low liquidity market. In response, senior officials suggested that an exchange rate of 80-90 per dollar was preferable.
The rouble is now being supported by the approach of monthly tax payments that usually sees exporters convert foreign exchange revenues to settle local liabilities.
Brent crude oil, a global benchmark for Russia's main export, was down 1.7% at $72.90 a barrel.
Russian stock indexes were lower.
The dollar-denominated RTS index was down 1.2% to 1,043.9 points. The rouble-based MOEX Russian index was 1.4% lower at 2,776.5 points.
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(Reporting by Alexander Marrow; editing by Philippa Fletcher)
