EnglishThe Russian rouble yesterday reached the highest exchange rate against the dollar in the past two weeks amid speculations that the global economic recovery would stimulate the demand for oil. Significantly, most of Russia"s exports consist of oil and gas.
The rouble gained 0.83 per cent to 28.7690 RUB/USD yesterday morning, moving to 28.7950 RUB/USD around 11:46, up by 0.7 per cent from last week"s closing price.
The rouble lost 0.5 per cent against the dollar between 16 and 20 November, this being the first weekly decline in November, following the announcement of the central bank that interventions would continue to stop the ascent of the national currency.
Exports of Ural oil, the most important type of oil delivered by Russia, have gained over 80 per cent this year, supporting the dynamics of the rouble and the national economy in general.
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