"The rise in oil prices to about $90 per barrel of the Brent gave confidence to buyers. The ruble attempted to become stronger against the dollar but remained weak overall," Alexander Bakhtin from BCS Investment World noted
"The ruble was uncertain today, and oil prices were mainly growing, which has already played a positive role," said Alexander Bakhtin, an investment strategist at BCS World of Investments
The Russian ruble’s slide past 100 against the dollar has exposed a multi-billion dollar dilemma at the heart of the Russian economy: how can the Kremlin carry on funding its war against Ukraine without triggering a surge in inflation and fresh fears of an economic crisis at home?