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Reuters

Russian rouble climbs to strongest in 7 years vs dollar, euro

The Russian rouble jumped to a seven-year high against the dollar and euro on Moscow Exchange on Tuesday, supported by capital controls and the prospect of favourable month-end tax payments. The rouble, which has become the world’s best-performing currency https://emea1.apps.cp.thomsonreuters.com/Apps/NewsServices/mediaProxy?apiKey=6d416f26-7b24-4f31-beb6-1b5aa0f3fafb&url=http%3A%2F%2Ffingfx.thomsonreuters.com%2Fgfx%2Frngs%2FGLOBAL-CURRENCIES-PERFORMANCE%2F0100301V041%2Findex.html this year, is steered by Russia’s high proceeds from commodity exports, a sharp drop in imports and a ban on households withdrawing foreign currency savings. Top policymakers used Russia’s annual economic forum in St. Petersburg last week to highlight the rouble’s recent strength.