Ruble Leads Emerging-Market Gains as Russia-Saudi Oil Cap Seen
- Currency could reach 63 per dollar before Doha meeting: ING
- Net capital outflow was smallest in first quarter since 2007
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Russia’s ruble led gains in emerging markets after Interfax reported the nation’s talks with Saudi Arabia resulted in a consensus on oil output, pushing the currency of the world’s biggest energy exporter to the highest level in more than four months.
The currency strengthened 1.3 percent to 65.936 per dollar by 6:12 p.m. in Moscow, the highest level since Nov. 26. Brent crude, used as a benchmark for Russia’s main export variety, rose 2.2 percent in London to $43.79 per barrel, up 57 percent from a 13-year low on Jan. 20.