15056
Ruble Rebounds
World Economy

Ruble Rebounds

The Russian ruble rebounded on Monday after falling sharply on Friday, with higher oil prices and the beginning of a new monthly tax period helping the currency, Reuters reported. At 0705 GMT, the ruble was around 0.9% stronger against the dollar at 51.40 and gained 1.1% to trade at 55.40 versus the euro. This follows a nearly 5% slump on Friday. Oil prices, Russia’s main exports, rose on Friday, while demand for the ruble was also higher due to levies that domestic exporters must pay this week. Meanwhile, the ruble rate will most likely fluctuate in the coming months but it should be largely stable if there are no big changes in oil prices or sanctions against Russia, Ksenia Yudayeva, a first deputy governor, wrote in an opinion piece in business daily Vedomosti and added that the ruble had been adjusting to new conditions.

Short URL : http://goo.gl/SjqzAq

You can also read ...

The 2017 “WannaCry” cyber attack demanded affected users wire ransom money via Bitcoin.
You don’t have to be a digital whizz kid to know that the wars...
A woman protests a planned coal-fired plant  in southern Thailand.
Southeast Asian governments are finding themselves caught...
South Africa Wants to Increase VAT Rates
With an economic downgrade to junk status, a slowly growing...
Malaysia has shown willingness to move towards  a market-oriented mechanism.
Forty-three World Trade Organization members who participated...
Singapore to Hike GST for First  Time in Decade
Singapore is expected to raise goods and services tax for the...
China’s Commerce Ministry says the proposed US measures are groundless.
China said proposed US tariffs on imported steel and aluminum...
Egypt Cuts  Key Rates
The Egyptian central bank cut its key interest rates by 100...
62% of Japan Loan Rate  Below 1%
After two years of the Bank of Japan guiding key interest...

Trending

Googleplus