Ruble Follows Gains of Crude Oil
The Russian ruble gained today as crude oil, the major Russia’s export, headed to a weekly gain amid increasing willingness of traders to buy riskier assets.
Crude advanced 0.6 percent to $92.60 per barrel in New York today. The gains of oil followed yesterday’s positive macroeconomic data from the United States, including falling unemployment claims. Crude oil and gas makes up about 50 percent of Russia’s export revenue.
USD/RUB went down 31.0395 to 30.9880 as of 12:22 GMT today, falling from the daily high of 31.2025.
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Earlier News About the Russian Ruble:
- Ruble Gains on Oil Prices & Risk Appetite (2012-09-06)
- Ruble Rises as Stimulus Expectations Boost Oil (2012-08-23)
- Ruble Falls as Traders Feel Doubts About QE (2012-08-15)
- Ruble Rises with Oil & Bonds, Gives Away Gains (2012-08-13)
- Bank Rossii Keeps Rates Steady, Does Not Help Ruble (2012-08-10)