By Sama Marwan,
The Russian ruble appreciated by 1.5% to reach 80.90 rubles per U.S. dollar—its highest level since June 28.
According to the investment platform Investing.com, the ruble’s rise was supported by an increase in oil prices—the key commodity for Russia—which climbed by 3% during yesterday’s trading sessions.
The ruble also largely ignored U.S. Secretary of State Marco Rubio’s statement that President Donald Trump would back down from mediating a peace agreement between Russia and Ukraine within a few days unless clear signs emerged that such an agreement was possible.
Furthermore, the ruble increased slightly by 0.1% to 11.08 per Chinese yuan on the Moscow Exchange. The Chinese yuan is the foreign currency most actively traded by the Russian Central Bank in its interventions in the forex market.
Notably, the ruble has risen over 40% against the dollar since the beginning of this year, largely due to expectations of easing tensions between Russia and the United States.
