* Rouble falls past 60 vs dollar for first time since July 11

* Russian currency crosses 61 threshold vs euro

* Market alert to news on FX interventions, budget rule

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

MOSCOW, July 26 (Reuters) - The Russian rouble fell sharply to its lowest in two weeks against the dollar and euro in volatile trade on Tuesday, as the market remained alert to any news on possible currency interventions or tweaks to Russia's fiscal rule.

By 1520 GMT, the rouble was 3.6% weaker against the dollar at 60.20, its weakest mark since July 11. It had lost 3.2% to trade at 61.10 versus the euro, also a more than two-week low.

Jittery trade has characterised the rouble's last few sessions. On Friday, Russia's central bank cut its key interest rate by a bigger-than-expected 1.5 percentage points to 8.0% and said it would study the need for more cuts as inflation slowed and an economic contraction continued for longer than previously expected.

"As well as expectations related to the new budget rule, the increased demand for foreign currency could be due to continued repayment of foreign currency loans," SberCIB Investment Research said.

ROUBLE STRENGTH

The rouble failed to capitalise on the peak of a favourable tax period on Monday as it extended its losses, but remains relatively close to the near seven-year highs it hit in late June.

The currency's strength has concerned officials, because it dents Russia's income from exports of commodities and other goods priced in dollars and euros.

The rouble is still the world's strongest-performing currency https://emea1.apps.cp.thomsonreuters.com/Apps/NewsServices/mediaProxy?apiKey=6d416f26-7b24-4f31-beb6-1b5aa0f3fafb&url=http%3A%2F%2Ffingfx.thomsonreuters.com%2Fgfx%2Frngs%2FGLOBAL-CURRENCIES-PERFORMANCE%2F0100301V041%2Findex.html so far this year, boosted by measures to shield Russia's financial system from Western sanctions imposed after Moscow sent troops into Ukraine on Feb. 24. These include restrictions on Russian households withdrawing foreign currency savings.

Before Feb. 24, the rouble traded near 80 per dollar and 85 per euro.

Alfa Capital analyst Alexander Dzhioev said Russia's trade surplus and restrictions on the movement of capital were continuing to support the rouble.

"The supply of foreign currency on the domestic market from exporting companies is still hefty, while demand for this foreign currency is limited due to weak activity from importing companies," Dzhioev said.

Russian stock indexes were mixed. The dollar-denominated RTS index was down 1.3% to 1,140.7 points. The rouble-based MOEX Russian index was 2.5% higher at 2,182.5 points.

Moscow-listed shares in internet giant Yandex were up 8.2% after the company reported higher revenue and profit for the second quarter. (Reporting by Reuters; Editing by Alison Williams and Mark Potter)