The Russian ruble jumped today to the highest price in two months, heading to the best monthly performance this year, after the crude oil prices touched the highest level in two years and as Russia’s central bank increased the interest rates.
Bank Rossii, Russia’s central bank, raised the rate charged on the ruble deposits kept with the central bank by 25 basis points to 2.75 percent on December 24th. Crude oil climbed today 0.4 percent to $91.34 per barrel in New York, trading near the highest level in two years, on speculation that the US crude oil inventories declined.
Update: For clarity, phrase “interest rates” was changed to “rate charged on the ruble deposits kept with the central bank”.
USD/RUB declined from 30.316 to 30.255 as of 11:17 GMT today.
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