MOSCOW: The rouble opened higher against a broadly weaker dollar on Thursday, with recovery in crude oil prices and positive news on Greece's debt likely to extend the Russian currency's gains later in the trade. Locally, the market will be watching out for surprises from the central bank's rate policy meeting due to take place later on Thursday, but broad assumption of the regulator leaving key policy rates on hold have been already priced in, analysts say. The rouble opened 0.3 percent higher against the U.S. currency at 27.88. The rouble has now not only recovered all losses suffered after the International Energy Agency's decision last week to release oil stocks, but surpassed the level before the IEA move, returning to its strongest since first week of June. The initial approval by the Greek parliament of an austerity package buoyed investor optimism that a default on the country's debt can be avoided and gave a new momentum to betting on riskier assets, such as Russia's rouble instruments. News from Greece pushed the euro higher across the board, and the rouble was trading 0.2 percent lower against the single European currency at 40.42. "The latest news from the Eurozone will be speaking in favour of the euro and although the problems of the debt crisis are still far from over, market participants will try to capitalise on the growth of the Euroepan currency on forex markets," Alexander Babaikin, an analyst at NETTRADER in Moscow wrote in a note. Against the dollar-euro basket, the central bank uses as a guidance of the rouble's nominal exchange rate, the currency stayed unchanged at 33.53. Recovery in crude oil prices -- a major determinant of the rouble's fate as oil remains Russia's chief exports and energy revenues make up 40 percent of the federal budget -- has been aiding the rouble's recovery. ICE Brent crude rose 20 cents to $112.60 a barrel after jumping more than 3 percent on Wednesday.

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