Russian Ruble At More Than 4-week High Versus U.S. Dollar After Russia Rate Hike
23 Abril 2021 - 2:22AM
RTTF2
The Russian Ruble drifted higher against the U.S. dollar in the
European session on Friday, after Russia's central bank raised its
key rate amid rising inflationary expectations.
The Board of Directors, led by Governor Elvira Nabiullina
decided to lift the benchmark rate by 50 basis points to 5.00
percent. Economists had forecast a quarter point hike.
The bank observed that recovery in demand is becoming more and
more resilient and in a number of sectors is outstripping the
possibility of increasing output. In these conditions, the balance
of risks is shifted towards pro-inflationary ones, the bank
said.
The Russian Ruble approached 74.80 against the greenback, its
highest level in a month. The pair had ended yesterday's deals at
75.42. The Ruble is likely test resistance around the 72.00
area.
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