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 into Ukraine on Feb. 24.
By 1413 GMT, the ruble had gained 2.3 percent to 76.68 to the dollar, hovering near levels seen before Feb. 24. It briefly hit 71.8850 to the dollar on the Moscow Exchange.
Against the euro, the ruble added 2 percent to 82.34, heading away from an all-time low of 132.41 hit on the Moscow Exchange on March 10.
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