Ruble’s Record Month Gains Momentum From Ukraine Truce Optimism
The skyscrapers of the Moscow International Business Center on Oct. 28, 2014.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The ruble strengthened for a second day, extending its biggest monthly gain on record, as signals that the latest attempt at peace in eastern Ukraine is holding sent Russian stocks rallying the most globally.
The currency advanced as much as 3 percent to dip below 60 per dollar for the first time in seven weeks as the Ukrainian military said there were no cease-fire breaches since 12:45 a.m. local time. The ruble is on course for a 13 percent appreciation in February, bolstered by the biggest monthly jump in Brent crude in six years.