Ruble Trades Within Corridor for 2nd Day as Band Kept Unchanged
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The ruble traded inside the Russian central bank’s currency corridor for a second day as oil rebounded, allowing the monetary authority to keep the target band unchanged for the first time in more than two weeks.
The ruble strengthened 0.4 percent to 46.0389 against the central bank’s dollar-euro basket by 6 p.m. in Moscow. The monetary authority left the upper limit of its dollar-euro basket at 46.30 yesterday, it said in an e-mailed statement today. Crude, Russia’s main export earner, rose 0.7 percent to $86.01 per barrel in London, rebounding from a four-year low.