By Emma O'Brien
July 9 (Bloomberg) -- Russia's ruble strengthened against the euro and the dollar on speculation the central bank is avoiding sales of the currency, allowing it to appreciate in an attempt to curb inflation.
The currency advanced 0.5 percent to 23.4024 per dollar and 0.2 percent to 36.7816 per euro by 10:16 a.m. in Moscow. Against the dollar-euro basket the central bank uses to control currency fluctuations, the ruble gained 0.3 percent to 29.4301.
To contact the reporter on this story: Emma O'Brien in Moscow on eobrien6@bloomberg.net
Wednesday, July 9, 2008
Ruble Advances on Speculation Central Bank Is Avoiding Sales
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