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Ruble Strengthens Following Crimea Reunification Treaty

© Sputnik / Vladimir Astapkovich / Go to the photo bankRussian Ruble
Russian Ruble - Sputnik International
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The ruble strengthened to a two-week high against the dollar on Wednesday following the signing of a treaty Tuesday by Russian and Crimean leaders on the reunification of the Black Sea peninsula with Russia.

MOSCOW, March 19 (RIA Novosti) – The ruble strengthened to a two-week high against the dollar on Wednesday following the signing of a treaty Tuesday by Russian and Crimean leaders on the reunification of the Black Sea peninsula with Russia.

By mid-day the Moscow stock exchange reported the currency was trading just below the psychologically important barrier of 36 rubles to the dollar for the first time in two weeks, having decreased by 22 kopecks earlier in the day.

The currency likewise strengthened against the euro by 30.8 kopecks to 50.13 rubles.

The shift came a day after a historic treaty was signed on the reunification of Ukraine’s breakaway republic of Crimea with Russia, signaling at least a temporary easing of market fears of risk associated with the greatest geopolitical showdown between Russia and the West since the end of the Cold War.

 

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