[Economics] The ruble is heading to a 5-year high against the European currency

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https://www.msn.com/ar-ae/money/news/الروبل-يتجه-لأعلى-مستوى-في-5-أعوام-أمام-العملة-الأوروبية/ar-AAXqX6N?li=BB1ebCer

 

 

 

The Russian ruble rose against the dollar and rebounded towards a five-year high against the euro as some European gas buyers sought to meet Moscow's demand to pay in the Russian currency.

The ruble has become the best performing currency this year despite a severe economic crisis, with it being artificially bolstered by restrictions Russia imposed in late February to protect its financial sector after it sent tens of thousands of soldiers to Ukraine.

The ruble ended the trading session, up 0.24 percent against the green currency to 63.445, not far from the level of 62.625 reached on Friday, the highest since early February 2020.

 

The ruble rose 0.53 percent against the euro to 66.70, returning towards its strongest level since mid-2017, at 64.9425, which it touched last week.

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