MOSCOW (WARNEWS) – The Russian ruble surged beyond 81 against the U.S. dollar, buoyed by increasing oil prices, marking its strongest position since June 28, 2024.
By 0900 GMT, the rouble had gained 1.5%, trading at 80.90 against the US dollar amid light volume as people prepared for the Orthodox Easter holiday. On April 17th, the cost of oil, which is crucial to Russia’s economy, increased by 3%.
The value of the Russian ruble has risen more than 40% compared to the U.S. dollar this year, largely due to expectations of reduced geopolitical tensions between Russia and the United States.
The Russian ruble has disregarded the assertion made by U.S. Secretary of State Marco Rubio, stating that President Donald Trump plans to abandon efforts to mediate a peace agreement between Russia and Ukraine within days unless tangible indications emerge suggesting such an accord can indeed be reached.
Against the Chinese yuan, which is used by Russia’s central bank for its foreign exchange interventions and is currently the most traded foreign currency in Russia, the rouble was up 0.1% to 11.08 on the Moscow Stock Exchange.
(Reported by Gleb Bryanski; edited by Guy Faulconbridge and Nivedita Bhattacharjee)
