Russian Ruble jumps to 3-week high against US dollar

The Russian Ruble rose to its highest level in more than three weeks on Thursday against US dollar and euro, as did Russian stocks.

By 1444 GMT, the Ruble rose 2.4% against the dollar to trade at 59.27, having earlier reached its strongest level since July 26^th at 58.90.

According to “Reuters”, the ruble rose against the euro by 2.8% to 59.94, its highest level since late July.

Thanks to the capital controls, the ruble has become the best performing currency in the world this year.

The volatility of the ruble fell after swinging sharply as it reached a record low of 121.53 against the dollar on the Moscow exchange in March, days after Russia sent tens of thousands of troops to Ukraine on February 24, and then climbed to its highest level in seven years to reach 50.01 in June.

The dollar-denominated RTS index rose 2.7% to 1,167.1 points. The Moscow Stock Exchange index also rose 0.4% to 2,196.1 points.