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 was 4.6 percent stronger against the dollar at 57.47, not far from 57.0750, its strongest mark since late March 2018, hit on Friday.
The ruble has firmed about 30 percent against the dollar this year despite a full-scale economic crisis in Russia, making it the—albeit artificially supported by controls imposed in late February to shield Russia’s financial sector after its decision to send tens of thousands of troops into Ukraine prompted unprecedented Western sanctions….