Bank of Russia’s Yudaeva Says Ruble’s Oil-Led Rally Is Over
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The Bank of Russia said the ruble’s oil-driven appreciation, this year’s biggest currency rally, has ended.
“The fast appreciation of the ruble that we saw, linked to the sharp upswing in the price of oil by 30 percent -- that’s over,” central bank First Deputy Governor Ksenia Yudaeva said at a conference in Moscow on Wednesday. “Now we are seeing a stabilization.”