Russian Ruble Climbs To More Than 5-month High Against U.S. Dollar

03:08, 29th April 2016

(RTTNews) - The Russian Ruble gained ground against the U.S. dollar in European trading on Friday, as oil prices rallied amid a weaker dollar and as Russia's central bank kept its key interest rate unchanged for a sixth straight month.

In a statement, the Bank of Russia said it decided to keep the key rate at 11.00 percent. The decision was in line with economists' expectations.

"The Board of Directors sees the positive processes of inflation slowdown and inflation expectations decline, as well as shifts in the economy which anticipate the beginning of its recovery growth," the bank said.

The Russian Ruble spiked up to more than a 5-month high of 63.985 against the greenback, off its early 2-day low of 65.5105. The Russian Ruble may find resistance around the 62.00 zone.