The ruble appreciated today as prices for Brent grade of crude oil rose and exporters were buying the currency to pay taxes.
Futures for Brent crude rose 0.03 percent to $102.85 per barrel today. Russian companies pay taxes today, therefore they had to convert their earnings in the local currency, increasing demand for the ruble. The Russian currency was heading to a 5.4 percent drop in the quarter, the worst quarterly decline in a year.
USD/RUB fell from 32.8117 to 32.7660 as of 11:48 GMT today and its daily minimum was at 32.7525.
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