The Russian rouble recorded a new rise against the US dollar during Friday's trading, surpassing the barrier of 81 roubles per dollar, the highest level of the Russian currency since June 28, 2024, driven by rising oil prices and a decline in geopolitical tensions.
According to currency market data, the rouble rose 1.5% to 80.90 against the dollar at 09:00 GMT, amid weak trading before the Orthodox Easter holiday in Russia.
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This strong performance coincides with the rise in oil prices, the main commodity on which Russia relies for its export revenues, by 3% in the April 17, 2025 session.
Thus, the rouble has recorded gains of more than 40% since the beginning of 2025, in light of expectations of a break in relations between Moscow and Washington, which strengthens confidence in the Russian economy despite ongoing Western sanctions.
In a related context, the markets ignored the statements of US Secretary of State Marco Rubio, in which he hinted that US President Donald Trump may abandon mediation efforts to reach a peace agreement between Russia and Ukraine within days, in the absence of clear indications of the possibility of reaching an agreement.
In terms of other currencies, the ruble rose against the Chinese yuan, the most traded foreign currency in Russia currently and used by the Russian Central Bank in its interventions in the foreign exchange market, by 0.1% to reach 11.08 on the Moscow Stock Exchange.
It is noteworthy that the ruble was under strong pressure during 2022 and 2023 against the background of Western sanctions related to the Ukrainian crisis, but it began to recover with the improvement in energy prices and the change of Russian economic policies towards dependence on non-Western currencies and the strengthening of trade relations with China and the BRICS countries.
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