The Russian currency has opened higher Thursday, continuing its recovery from the biggest intraday drop since 1998 default on so-called ‘Black Tuesday’.
The dollar was down 65 kopeks at the opening on the Moscow Exchange, while on the stock market, the dollar-denominated RTS index was up 6.5 percent.
That’s just hours before President Vladimir Putin commences his much-anticipated QA marathon, in which he’s expected to face tough economic questions about the ruble and turmoil in the financial markets.
READ MORE: 2014 QA marathon: Public awaits Putin’s take on watershed year for Russia
On Wednesday, the ruble jumped 6 percent against the US dollar to finish trading at 60.51 against the Greenback. On ‘Black Tuesday’ the ruble dipped to as low as 80 rubles against the US dollar and hit a threshold of 100 against the euro.
READ MORE: Ruble rumble: Currency gains ground after Tuesday trauma
The Central Bank of Russia said it hadn’t intervened in the Russian forex market on Wednesday, after it spent around $2 billion in currency interventions on Monday. That is compared to about $774 million spent in all of November.
Article source: http://rt.com/business/215443-russis-ruble-putin-speehc/
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