Resurgent ruble resumes rally ...News

Russia Today - Economy
Resurgent ruble resumes rally
The Russian currency has reversed earlier losses due the interest-rate cut by the central bank The ruble firmed sharply on the Moscow Exchange on Monday, recouping most of last week’s losses as it retained support from capital controls and Russia’s strong trade account. At 11:16 GMT, the ruble gained nearly 9% on the US currency at 61 rubles per dollar, and was up around 10% against the euro to trade below below 63. Last Wednesday the Russian currency hit a four-year high of 55.80 to the dollar, and reached a seven-year high of 57.10 against the euro. “The overall fundamental picture for the ruble is not changing

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