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Russian ruble rises on the first working day of the new year

Adel 9 January, 2023 3:33 pm Commodities, Forex Market, Market Update

The Russian ruble started the first days of full trading in the new year on the rise, and rose from levels that are the lowest in 6 months, which it reached in volatile transactions in late 2022.

The ruble advanced 1.4% against the dollar on Monday, January 9, to reach 71.08. The Russian currency rose 0.2% against the euro to 76.01 and settled against the Chinese yuan to 10.44 in Moscow.

After long periods of last year the ruble was the best-performing currency in the world, in December it lost 17% after Western moves to cap the price of Russian oil and the European Union to ban Russian oil exports.

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