Russian Ruble Climbs To More Than 5-month High Against U.S. Dollar
April 29 2016 - 3:08AM
RTTF2
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.
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