Ruble Gains Sharply on First Russian Trade Day
In the first day of trading for Russian stocks in 2010, the national currency posted a sharp rise as equities in the country, extremely related to commodities, climbed with full force, as stock markets in the country were closed last week.
The ruble benefited today from a strong demand for oil in the Northern Hemisphere as this winter is being of the most intense during the past decade, forcing the crude beyond $83 a barrel, allowing Russian stocks to gain sharply and consequently providing support for the nation’s currency to post the sharpest advance in a decade today versus the greenback.
USD/RUB closed today at 29.30 today from an opening rate of 29.868, a decline of almost 2 percent.
If you want to comment on the Russian Ruble’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Russian Ruble:
- Russia's Ruble Climbs Further as Oil Touches $75 (2009-12-23)
- Russian Ruble Rally Halted After OPEC Meeting (2009-12-22)
- Ruble Declines as Russian Officials See Opportunity (2009-11-27)
- Russian Ruble Gains Further as Nation Rebound From Slump (2009-10-21)
- Crude Oil Record High Helps Russian Ruble to Gain (2009-10-19)