Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Russian Rouble Surges against Major Currencies


Fri 14 Jul 2023 | 04:17 AM
A model of the natural gas pipeline is placed on Russian Rouble banknote and a flag in this illustration taken, March 23, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
A model of the natural gas pipeline is placed on Russian Rouble banknote and a flag in this illustration taken, March 23, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
Taarek Refaat

The exchange rate of the rouble rose against the major currencies today, Thursday, and rose against the dollar and the yuan by more than 1%, and thus the Russian currency compensated for some of the losses it suffered recently.

By 15:25 Moscow time, the dollar exchange rate had fallen by 1.1 roubles (rouble = 100 kopecks) to 89.77 rubles.

While the exchange rate of the euro fell by 57 kopecks to 100.36 rubles, the exchange rate of the Chinese yuan fell by 18 kopecks to 100.36 roubles.

The rise of the Russian currency coincided with the rise in the price of black gold in global markets, as global crude "Brent" blend rose above $90 a barrel, for the first time in more than a year.