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Russian ruble hits 18 wk high – Finance News

Russian ruble hits 18 wk high – Finance News, Russian ruble hits 18-wk high

The Russian currency continues its recovery against the US dollar on Wednesday, trading at its highest level since the end of November 2014, as oil prices rise and investors see geopolitical risks diminishing.

The ruble was trading at 49.3 against the greenback at 10:45am MSK on the Moscow Exchange. On November 28, 2014 the ruble traded at 49.47 against the dollar.

Higher oil prices come as a key driver, with Brent adding 0.85 percent to trade at .43 per barrel on Wednesday at 11:00am MSK and WTI climbing about 1 percent to .36 per barrel.

The escalating conflict in Yemen is a strong driver of oil’s resurgence. On Saturday, the international coalition headed by Saudi Arabia made over 100 airstrikes on the northwestern provinces of Saada and Hajja. The strikes took place after Yemen’s Houthi fighters fired mortar bombs and rockets at a Saudi Arabian border town on Tuesday last week for the first time since a the military campaign against them began on March 25. Daily Voice News – Global News – You Can Listen the news this channel
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