The Russian ruble rose against the U.S. dollar today as the crude oil’s price reached its record high in 17 months on the signs that the rising pace of the global economic recovery may spur the demand for the fuel.
The oil, being the main nation’s export, has the great impact on the Russian currency’s performance and the overall economic situation in the country. Despite the rising prices for the nation’s key export commodity the ruble’s further appreciation may halt, contained by the central bank, as the bank tries to prevent the gains of the currency, using interventions and interest rate cuts, on outlook for a slowing economic rebound.
USD/RUR traded at 29.200 as of 12:09 GMT after it opened at 29.442 today.
If you have any questions, comments or opinions regarding the Russian Ruble,
feel free to post them using the commentary form below.
