Ruble Rises with Oil & Bonds, Gives Away Gains
The Russian ruble advanced today as Russian bonds rose after three sessions of decline and crude oil, the major source of nation’s export revenue, climbed on mounting concerns about the situation in Middle East. The currency retreated as of now.
Futures on Brent crude oil rose as much as 1.3 percent to the highest level in three month. The prices were driven by speculations that Israel may attack Iran. The yield on the Russian government dollar bonds maturing in March 2030 fell 11 basis points to 3.09 percent.
USD/RUB rose from 31.8465 to 31.8650 as of 15:06 GMT today, while the daily low was at 31.6720.
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Earlier News About the Russian Ruble:
- Bank Rossii Keeps Rates Steady, Does Not Help Ruble (2012-08-10)
- Ruble Rises as Oil Prices Advance & Borrowing Costs Fall (2012-08-06)
- Ruble Falls as Market Sentiment Poor After ECB Policy Decision (2012-08-03)
- Ruble Falls as Optimism Retreats from FX Market (2012-07-30)
- Ruble Drops as Yield on Russian Debt Rises (2012-07-23)