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.

Read more