12:49 GMT +321 February 2017
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    A Russian ruble coin is pictured in front of the Kremlin in in central Moscow, on November 6, 2014

    Russian Ruble Actively Growing Against US Dollar Amid Rising Oil Prices

    © AFP 2016/ ALEXANDER NEMENOV
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    The Russian ruble continues to grow against the US dollar, reaching a new high since July 2015, Moscow stock exchange data shows.

    MOSCOW (Sputnik) The Russian ruble continues to grow against the US dollar, reaching a new high since July 2015, Moscow stock exchange data shows.

    The ruble for tomorrow settlement is at 59.74 per dollar and at 62.73 per euro.

    In comparison, at the end of 2015 trading, the ruble was at 73.59 per dollar and at 80.43 per euro.

    The Brent crude oil price is currently at $56 per barrel.

    On Tuesday, oil prices rallied to levels unseen since mid-2015 after a 2-percent surge with the markets buoyed by the oil producers' output cut agreement coming into force in January. The Brent benchmark rose from around $57 per barrel to over $58 per barrel in early Tuesday's trading.

    In comparison Brent crude closed at $35.99 per barrel in January 2016. At the start of December, the price per barrel was $54.58.

    The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the US dollar amid low global oil prices and Western economic sanctions imposed against Russia over the situation in eastern Ukraine.

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    Related:

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    • avatar
      cast235
      Russian recuperation will arrive soon. But shouldn't be all resources. Time Russia plan, and earmark budgets for 3 years ahead of time. NO MORE 2014 nor the 90's. This will give time to prep for financial storms. They will always happen for one reason or another.
      Also Russia should consider some percentage, to give checks for every single citizen.
      By being a percentage ONLY, the amount will vary IF checked quarterly.. ANd earmarked for 3 years down the road , like the budget.
      There will be no tax report on it . Regardless of who take it. Immigrants will have to work . And get NOTHING . Perhaps after few years and IF they become full citizens.
      People abroad , permanently will NOT get the cash unless they citizens of Russia.

      That will end the sneaky people asking cash and states trying to BLEED Russian budget.
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