May 18 (Reuters) - The Russian rouble fell back on Thursday, giving up gains made late in the previous session against the dollar, hurt by strong local demand for foreign currency and reduced activity by exporters in terms of converting revenues.

At 0739 GMT, the rouble was 0.6% weaker against the dollar at 80.37 and had lost 0.5% to trade at 86.98 versus the euro. It had shed 0.1% against the yuan to 11.40.

Wednesday's gains had bucked the trend of recent sessions that have seen the rouble weaken from around 76 to the dollar last week to as far as 81.

Analysts do not expect the rouble to weaken much further, with month-end tax payments, which usually lead exporters to convert foreign currency revenues to meet local liabilities, approaching.

Brent crude oil, a global benchmark for Russia's main export, was down 0.4% at $76.66 a barrel.

Russian stock indexes were mixed.

The dollar-denominated RTS index was down 0.1% to 1,038.7 points. The rouble-based MOEX Russian index was 0.6% higher at 2,650.2 points.

Shares in dominant lender Sberbank were 0.8% higher after the bank reported record quarterly profits.

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(Reporting by Alexander Marrow Editing by Christina Fincher)