Support The Moscow Times!

Russian Ruble Climbs to Two-Month High On Rising Oil Prices

The Russian ruble fell below 61 against the dollar Friday, the highest seen since the end of July, due to rising global prices for oil, the Interfax news agency reported.

The ruble was at 60.98 against the U.S. dollar at 1:46 p.m., climbing 7.6 percent from the beginning of the week, and 69.19 against the euro, up 6.6 percent over the same period, according to the news agency.

The ruble has risen as the price for Brent crude oil, a major driver for all Russian assets, increased to $54 per barrel on Friday, Interfax reported.

Since the beginning of last year, the Russian ruble, pressed by falling global oil prices, has lost around 45 percent of its value against the U.S. dollar.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more