Crude Oil Fuels Russian Ruble Rally

The Russian currency gained versus the U.S. dollar and several other currencies as the crude oil climbed again today, fueled by optimism regarding the world economic recovery.
After Federal Reserve Chairman Ben Bernanke affirmed last Friday that the world is finding its path out of recession, the crude oil, one of the main Russian exports, traded at a 10-month high, providing support for Russian equities markets and currency to climb versus the greenback and several other currencies this Monday.
USD/RUB traded at 31.40 as of 18:18 GMT from an opening rate of 31.65 today.

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