Ruble Rises as Investors Look to Putin, Geneva for Ukraine Clues
The ruble strengthened for a second day as investors awaited comments from President Vladimir Putin and politicians in Geneva on the crisis in Ukraine.
The ruble advanced 0.1 percent against the dollar to 35.9465 by 11:09 a.m. in Moscow. The yield on Russia’s ruble debt due February 2027 fell five basis points to 9.14 percent.
Putin, who holds a televised question-and-answer session with the public today, has been getting appeals for help from eastern Ukrainians alongside questions about why Russia isn’t taking action, his spokesman, Dmitry Peskov, told reporters on April 15. Four-party talks on a possible resolution of the Ukrainian standoff will be held today in Geneva.
“The ruble is waiting for Putin’s session with the Russian public,” Vladimir Miklashevsky, a strategist at Danske Bank A/S in Helsinki, said in e-mailed comments. “He has been calming the markets with his recent speeches during the Ukrainian crisis, so markets mostly expect same impact today.”
The ruble weakened 0.1 percent against the euro to 49.7940 and traded little changed against the central bank’s target basket of dollars and euros at 42.1761.
The Russian currency has pared its decline against the greenback since the beginning of the year to 8.6 percent. That’s the worst performance among 24 developing-nation currencies after Argentina’s peso.
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