The Russian rouble slipped to a near one-week low to the dollar on Monday, easing after the central bank on Friday said its rate hiking cycle was near completion, though still buttressed by exporters' conversion of foreign currency revenues.

The Bank of Russia raised its key interest rate by 100 basis points to 16% on Friday, hiking borrowing costs for the fifth consecutive meeting in response to stubborn inflation caused by stark labour shortages, the weak rouble, strong lending and government spending.

At 0732 GMT, the rouble was 0.1% weaker against the dollar at 90.35, earlier hitting 90.58, its weakest point since Dec. 12.

It had lost 0.1% to trade at 98.70 versus the euro and shed 0.2% against the yuan to 12.66 .

A month-end tax period usually sees exporters convert foreign currency revenues to pay local liabilities, but recent rouble strength may mean that this month's boost is fainter than usual, said Alor Broker's Alexei Antonov.

"It is not worth pinning much hope on the approaching tax period," said Antonov. "It is likely that the rouble's resilience observed in the last 10 days was caused by the fact that major exporters were accumulating roubles for the upcoming payment of taxes."

Since October and the rouble's most recent slide to the 100 mark against the dollar, a presidential decree forcing exporters to convert some foreign currency revenues has provided support.

Brent crude oil, a global benchmark for Russia's main export, was up 0.8% at $77.17 a barrel.

Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or more, earlier than promised, as the world's biggest exporters try to support the global oil price.

Russian stock indexes were higher.

The dollar-denominated RTS index was up 0.7% to 1,068.1 points. The rouble-based MOEX Russian index was 1% higher at 3,063.2 points. (Reporting by Alexander Marrow; Editing by Christian Schmollinger)