The Russian rouble firmed on Friday, pricing in a recent increase in oil prices and local tax payments that usually prompt companies to convert foreign currency to meet liabilities.
The room for the rouble's recovery, however, was limited by lingering concerns about geopolitical tensions between Moscow and the West. President Vladimir Putin is set to meet Germany's Chancellor Angela Merkel later on Friday. Uncertainty about Russia's new government is also a factor. Putin, who was reelected for a six-year stint in March, is expected together with his Prime Minister Dmitry Medvedev to present the new cabinet later in the day.
As of 0730 GMT, the rouble had gained 0.4 percent to 61.91 versus the dollar, inching towards the levels of around 57-58 it reached before a round of sanctions that the United States imposed in early April. Versus the euro, the rouble firmed 0.3 percent to 73.11.
Comments
Comments are closed.