High oil prices and the central bank’s tough monetary policy have paid off for Russia, as the ruble is on track to post its largest monthly gain for the year against the US dollar.
So far in October, the ruble has risen over 3% versus the US currency. The pair have remained on a downward trend, with investors opting to use gains to sell the greenback against the Russian currency, according to analysts at VTB Capital, as quoted by Reuters.
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