Russian Ruble Jumped To New Multi-week High Against Greenback
September 09 2009 - 9:41AM
RTTF2
The Russian ruble spiked up against the US dollar in New York
mid-day trading on Wednesday. At 10:40 am ET, the ruble climbed to
a new multi-week high of 30.9950 versus the greenback from early
morning session's low of 31.2725. Presently, the ruble is trading
near 31.06 versus the greenback, compared to Tuesday's close of
31.2425.
Wednesday, Russia's Federal Statistical Service said in a report
that the gross domestic product or GDP dropped 10.9% year-on-year
in the second quarter, compared with a 9.8% fall in the previous
quarter. The second quarter GDP was unrevised from the preliminary
estimate reported on August 11.
Sequentially, the GDP increased 7.4% in the second quarter.
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