Russia's battered ruble on Friday bounced back after a rise in crude prices, recovering ground a day after it slumped to an all-time low against the dollar.
The Russian currency stood at 80.3 against the dollar, up from Thursday's 82.63 ruble to the greenback, as oil prices rose from 12-year lows. The country's RTS dollar-denominated index meanwhile was up 5.30 percent at 0930 GMT.
Earlier this week, the ruble fell to a record low against the dollar, dipping below the 85-ruble mark and standing at 93 against the euro. Russia - whose energy-reliant economy has already been pushed into recession by low oil prices and Western sanctions over Ukraine - has been rocked by the fresh fall in oil prices and officials have come under increasing pressure to react.
In a bid to calm the markets, central bank chief Elvira Nabiullina insisted at a finance ministry meeting Friday that the authorities were "closely following" the situation on and have the tools to ward off instability. "We have all the means to be proactive and prevent threats to financial stability in advance," Elvira Nabiullina was quoted as saying by the RIA Novosti news agency.
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