Ruble Rally Powers Ahead Even After Capital Controls Dialed Back
- Lukashenko quipped to Putin not to ‘overdo’ the ruble’s gains
- ITI Capital sees some seasonal respite in summer months
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Russia’s currency extended a rally that’s taken it to the strongest level versus the dollar in four years, prompting a warning from one of President Vladimir Putin’s staunchest allies that the gains may be overdone.
The ruble was stronger for a fifth day against the dollar and the euro even after Putin signed a decree loosening capital controls by reducing the amount of foreign currency exporters are required to convert.