Last year brought the ruble an impressive 18.9 per cent up vs. the dollar. It is bad for commerce, as Russian-manufactured commodities are getting less competitive against imports. Ruble/euro rates are more beneficial to partly cure the situation. The ruble decreased 1.6 per cent down vs. the euro throughout last year, and went a token 0.4 per cent up last month, adds the report.
RUBLE UP VS. US$
MOSCOW, FEBRUARY 26 (RIA NOVOSTI) - The ruble came 3.7 per cent up against the US dollar last month, Russia's Ministry of Economic Development and Trade says in a monthly report circulated today.