The Russian ruble slumped around 10 percent against the dollar in volatile trade to a two-week low on Thursday as the central bank cut interest rates to 11 percent and suggested more cuts would follow as inflation risks subside. The central bank cut its key rate by 300 basis points for the third time in…

The Russian ruble has turned into the top-performing currency in global financial markets, despite Moscow facing a bombardment of crippling economic sanctions and financial restrictions. Year-to-date, the ruble has strengthened about 14 percent against the U.S. dollar. By comparison, the U.S. Dollar Index (DXY), which gauges the greenback against a basket of currencies, has advanced…

Russia will start a pilot project using its “digital” ruble with real customers and real transactions from April 2023, its central bank said on Wednesday, adding that the project would run ahead of the initial schedule. With Western sanctions cutting off Russia from large parts of the global financial system, Moscow is looking for alternative…

The Russian ruble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls. The ruble has firmed about 30 percent against the dollar this year despite a full-scale economic crisis in Russia. The…

The Russian ruble firmed more than 6 percent against the euro on Monday to a near seven-year high, boosted by capital controls, strong oil prices, and an upcoming month-end tax period. By 1338 GMT, the ruble had gained 6.3 percent to trade at 58.75 versus the euro, its strongest point since early June 2015. It…

The Russian ruble firmed past 77 to the dollar in volatile trade on Wednesday, while stock indexes reversed earlier losses as the market watched developments around Ukraine and sanctions against Russia. The country’s economy faces soaring inflation and capital flight after the West imposed tough sanctions against Moscow for sending tens of thousands of troops…

The Russian ruble firmed against the dollar on Tuesday, while prices for OFZ government bonds rose to their highest since Feb. 21 on expectations that the central bank would soon cut interest rates again. The ruble has fully recovered to levels seen before Feb. 24 when Russia sent tens of thousands of troops to Ukraine,…

The ruble briefly firmed past the 79 mark against the dollar on Monday, while stock indexes fell as the market lacked new momentum and investors watched developments around what Russia calls “a special military operation” in Ukraine. The Ukrainian foreign minister said over the weekend there had not been any recent diplomatic communications between Russia…

The Russian ruble weakened on Thursday, driven by expectations that Russia may relax its temporary capital control measures further, while stocks fell as the country continued what it calls “a special military operation” in Ukraine. Currently, Russian exporters are obliged to sell 80 percent of their forex revenues in the first three days after receiving…

Russia’s foreign currency payment rating has been downgraded after Moscow used rubles to make a dollar-denominated debt payment earlier in the week, a move that rating agency S&P Global said casts doubt on Russia’s ability or willingness to honor its obligations to foreign debtholders. S&P Global on Saturday cut Russia’s rating to “selective default,” saying…