Russian diplomat calls to compare death tolls in Iraq under Hussein vs under US ruleRussian Politics & Diplomacy October 22, 21:00
US-led coalition delivers air strike on civilian procession in Iraq — Defense ministryWorld October 22, 18:45
Gazprom supplies to Europe reach record-breaking 590 mln cubic meters on FridayBusiness & Economy October 22, 18:24
Minsk protests against Ukraine's forced return to Kiev of Belavia planeWorld October 22, 14:05
Russian Foreign Ministry: Militants in Aleppo fail assistance delivery, civilians outflowsRussian Politics & Diplomacy October 22, 14:03
Kremlin: Syria’s breakup may become catastrophe for the regionRussian Politics & Diplomacy October 22, 14:00
Kremlin: Common language at Normandy Four talks is not oftenRussian Politics & Diplomacy October 22, 13:56
Kremlin: Extending humanitarian pause in Aleppo is Putin’s independent decisionRussian Politics & Diplomacy October 22, 13:50
Putin offered condolences to families of victims in Mi-8 crash in YamalSociety & Culture October 22, 11:20
MOSCOW, March 6. /TASS/. The ruble’s real effective rate measured against the currencies of Russia’s major trading partners weakened in January-February 2015 by 0.8% compared with December 2014 but strengthened in February for the first time in the past six months, the Central Bank said on Friday.
The ruble’s real effective rate strengthened by 2.1% against major world currencies in February compared with its depreciation by 2.8% in January. Last time the ruble showed month-on-month appreciation in June 2014.
The dollar/ruble nominal exchange rate fell to 61.27 rubles to the dollar from 68.93 and the euro-ruble rate to 68.90 rubles to the euro from 78.11 in February, the Bank of Russia said.
The ruble’s growth is facilitated by rising world oil prices, experts say.
"The ruble is approaching fundamentally substantiated levels. However, we didn’t think this would happen so quickly," Renaissance Capital Chief Economist for Russia and CIS countries Oleg Kuzmin said.
A recovery in world oil prices currently hovering above $60 per barrel of Brent crude and a strong current account due to falling imports at the start of the year are the fundamental factors behind the ruble’s appreciation, the expert said.
Also, the market has long priced in negative factors that no longer pose a threat to the ruble, he added.
VTB Capital analyst Maxim Korovkin said larger foreign currency sales by exporters amid unchanged demand for foreign exchange also lent support to the Russian currency.