06:59 GMT +320 September 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 2017/ 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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