The Russian currency gained most in almost a decade as the crude oil reached $64 a barrel and metallic commodities are on the rise, creating speculations that Russia, a world leader in commodity exportation, will benefit from a global economic rebound.
The ruble already posted 16 percent of gains versus the U.S. dollar in five since the first signs of economic recovery started to appear in the first quarter, this Monday the Russian currency was favored by a wave of optimism that pushed the demand for commodities up, and being Russia a country with a wide and large number of natural resources, the nation’s currency swings with the commodities, therefore posting sharp gains in the beginning of this week.
USD/RUB traded at 31.035 as of 20:30 GMT from a previous rate of 31.770.
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