Russian ruble resumes recovery as exporters seen selling dollars

Wednesday, 31 December 2014 00:24 - - {{hitsCtrl.values.hits}}

MOSCOW (Reuters): The Russian rouble staged an uncertain recovery on Tuesday as traders saw modest foreign-currency sales on the final day of trading before the New Year holidays. At 7.30 a.m., the rouble was around 2.6% stronger against the dollar at 56.81 rubles per dollar and 2.1% firmer against the euro at 69.52. Within the first hour of trading, the rouble had surged to trade as much as 6% higher against the US currency, before sliding back into negative territory and then rising once more. The Russian currency has swung wildly in recent weeks after the central bank floated it and panic gripped the market, threatening to shatter the economic prosperity on which President Vladimir Putin’s popularity partly rests.