* Russian rouble firms as tax payments peak

* Pakistan's benchmark share index at all-time high

* Monetary stance to stay accommodative - PBOC governor

* Stocks up 0.5%, FX up 0.2%

Nov 28 (Reuters) - Most emerging market currencies rose on Tuesday as growing bets on a peak in U.S. interest rates and eventual cuts weighed on the dollar, while investors awaited key inflation reports and central bank decisions this week.

The MSCI index for EM currencies rose 0.2% and was poised for its best month so far this year, with the dollar eyeing a loss of more than 3% in November.

During the day the dollar slipped to a three-month low, before steadying.

"The narrative has now changed, with the next move in U.S. rates expected to be downwards. So EM fears have similarly receded," said Stuart Cole, head macro economist at Equiti Capital.

"A weaker dollar is usually beneficial for EMs as it reduces the domestic cost of their dollar obligations."

Softening economic data have fuelled expectations the Federal Reserve is done with rate hikes. With similar bets also at play in Europe, major central bank policymakers have stressed the need to see a sustained victory over inflation.

The key events poised to set the mood globally are China PMI on Wednesday, inflation readings from the U.S. and the euro zone, and an OPEC+ meeting all on Thursday.

A slew of monetary policy decisions from Thailand and economic data, including some inflation prints from Sri Lanka and South Africa among others, are also on investors' watch list.

On Monday central banks of both Israel and Ghana left their benchmark interest rates unchanged.

Russia's rouble firmed to 88.59 per dollar, hovering close to a multi-month high, supported by exporters paying monthly taxes as the market assessed a central bank announcement on adjusting its currency interventions formula in the new year.

Hungarian Finance Minister Mihaly Varga flagged risks around next year's economic growth outlook, while noting the inflation rate could fall into a "manageable range" next year.

The forint was down 0.1% against the euro.

Investors also awaited Polish inflation and GDP data on Thursday, which can offer clues as to how long the central bank will keep rates on hold.

The MSCI EM stocks index also gained 0.5%, and was on track for its best month since January.

Pakistan's benchmark share index broke above the 60,000-point mark for the first time to trade at a lifetime high. Investors are awaiting an imminent cut in its main interest rate, which is currently at a record high 22%.

Jailed former Pakistani Prime Minister Imran Khan was denied an open court trial on Monday, his lawyer said.

Hong Kong's Hang Seng Index closed down 1%, while the blue-chip CSI 300 Index and Shanghai Composite Index both edged up 0.2%.

China's central bank governor said monetary policy will remain accommodative, but urged structural reforms over time to reduce a reliance on infrastructure and property for growth.

Among individual movers, ArcelorMittal South Africa's shares tumbled 19.7% on plans to close its long steel operations, potentially affecting 3,500 jobs. (Reporting by Ankika Biswas in Bengaluru; Editing by Jan Harvey)