Ruble Hits Two-Year High as Istanbul Talks Expected With Ukraine
This article is for subscribers only.
Russia’s currency rose to its strongest level against the dollar in two years as negotiators arrived in Turkey for what are expected to be the first direct talks between Moscow and Kyiv since 2022 and domestic appetite for foreign-currency dropped.
The ruble has been buoyed this year by optimism over a potential end to the Kremlin’s war on Ukraine, with US President Donald Trump seeking to bring the fighting to an end. There are also signs of easing domestic demand for foreign currency, the Bank of Russia said in a report late Wednesday.