Russian rouble regains ground as oil prices recover

[TomSea]

Russian rouble regains ground as oil prices recover

By Reuters

Published: 10:01 EDT, 3 August 2017 | Updated: 10:01 EDT, 3 August 2017


MOSCOW, Aug 3 (Reuters) - The Russian rouble rebounded on Thursday, after a weak start, as the market's focus switched away from new U.S. sanctions against Moscow to rising oil prices.

The rouble firmed 0.7 percent to 60.18 versus the dollar <RUBUTSTN=MCX as of 1327 GMT, recovering from its weakest level since July 11 of 60.85 hit earlier on Thursday.

It had fallen for five consecutive trading days through Wednesday, but recovered as the price of oil, Russia's key export, was trading above $52 a barrel and headed towards its highest level since late May.

Read more: http://www.dailymail.co.uk/wires/reuters/article-4757598/Russian-rouble-regains-ground-oil-prices-recover.html#ixzz4ohckHlK6
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