Russian Ruble Advances To 2-day High Vs U.S. Dollar Despite Russia Rate Cut
April 28 2017 - 3:39AM
RTTF2
The Russian Ruble climbed against the U.S. dollar in European
deals on Friday amid higher oil prices, shrugging off the Russia's
central bank decision to cut its key rate by 50 basis points.
The Board of Directors decided to reduce the key rate to 9.25
percent per annum, the Bank of Russia said in a statement.
Economists had expected a modest reduction to 9.5 percent.
Policymakers noted that inflation is moving towards the target,
inflation expectations are still declining and economic activity is
recovering. Meanwhile, inflation risks remain in place, the bank
said.
The Russian Ruble advanced to a 2-day high of 56.56 against the
greenback, from a low of 57.12 hit at 6:30 pm ET. The next possible
resistance for the Russian currency is seen around the 54.00
region.
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