Ruble Gains with Crude Oil Prices

The Russian ruble rose against the US dollar with the help of rising crude oil prices. Comments from Russian President Vladimir Putin perhaps also played a part in the ruble’s rally.
Crude oil gained today, helping currencies related to the commodity. The ruble was among them as the Russian economy strongly depends on oil export.
Meanwhile, Putin said that the currency has stabilized:

The national currency is subject to certain market fluctuations related to the oil price but, still, it has already stabilised.

USD/RUB fell from 63.0839 to 62.7900 as of 21:53 GMT today.

If you have any questions, comments or opinions regarding the Russian Ruble,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *