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Russian Ruble increased to 59.824 RUB per USD

Noam Stiekema

Russian ruble (RUB) strengthened sharply in early trade on Friday, dropping below 60 to USD amid appreciating in recent days oil. In early European session Russian money exchanged at 59.824 RUB per USD. Significant retreat is observed against the EUR, as there rate reaches 65.609 RUB per EUR. Despite the extreme volatility of trading volumes […]

Ruble

RubleRussian ruble (RUB) strengthened sharply in early trade on Friday, dropping below 60 to USD amid appreciating in recent days oil. In early European session Russian money exchanged at 59.824 RUB per USD. Significant retreat is observed against the EUR, as there rate reaches 65.609 RUB per EUR.

Despite the extreme volatility of trading volumes currently are relatively low. The trade analysts believe that the demand for the Russian ruble will increase in recent days amid appreciating oil. Furthermore, the relative calm in eastern Ukraine also favors the confidence of market participants.

Brent crude oil, the main driver for all Russian assets, is traded with an increase of over 1% on Friday, exceeding 61 USD per barrel. Meanwhile, Russian stocks recorded mixed performance. The Ruble-denominated MICEX practically unchanged at 1,760 points, while the dollar-denominated RTS rose by over 2% to 931 points.

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