The Russian ruble climbed against the U.S. dollar ahead of European deals on Monday, as oil prices rebounded.

On Friday, Russian Finance Minister Anton Siluanov talked up the Russian currency, saying it would definitely firm at the beginning of next year.

The ruble climbed to a 4-day high of 55.02 against the greenback, compared to Friday's closing value of 58.99. The next possible upside target for the ruble is seen around the 50.00 mark.

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