Ruble Climbs with Rise of Crude Oil Prices
The Russian ruble advanced today, rising for the second day, as crude oil, the major Russia’s export, rose amid the positive market sentiment.
Crude oil traded at $87.84 per barrel in New York, near the highest level in two weeks. Crude and natural gas account for about 50 percent of Russia’s export revenue. Previously, the ruble was weak as importers were selling the currency ahead of the holiday season.
USD/RUB retreated from 30.7345 to 30.6210 as of 11:03 GMT today, falling from the daily high of 30.7957.
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