Russian Ruble Strengthens to Highest Point Since January

Denis Abramov / Vedomosti

The Russian ruble has risen to 73.8 against the U.S. dollar, its strongest level since Jan. 6, the RBC news website reported, citing data from The Moscow Exchange.

The official ruble exchange rate against the euro climbed to 80.28, also its highest level since the beginning of January.

The Russian currency has been strengthening amid growing oil prices.

As of Tuesday morning, the price for Brent crude oil rose above $37 per barrel for the first time since Jan. 5, RBC reported.

The crude prices have accelerated their growth after China — the world's largest oil importer — made an attempt to boost its slowing economy, Reuters reported Monday.

Another factor that has driven the prices up is falling oil output in the U.S. and OPEC countries, according to Reuters.

See also:

Russian Ruble Hits 5-Month High As Oil Prices Rise

Russian Public to Choose Design of New Ruble Banknotes

Ruble Devaluation Fails to Spur Russian Industry (Op-Ed)

From the Web