Russian ruble strengthens

Russian ruble strengthens

The ruble strengthened on Friday, building on gains made in the previous session thanks to a recovery in oil prices and in anticipation of end-of-month tax payments falling due, The Moscow Times reports.

At 0805 GMT, the ruble was around 1 percent stronger against the dollar at 45.66 and gained 1 percent to trade at 57.31 versus the euro.

"Miserly volumes continue to move a thin market," said a currency dealer at a large Russian bank. "It's not a fact that exporters have already come out, it could be speculators selling foreign currency."

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