Russia’s Ruble, Ukraine’s Hryvnia Climb After Gas Talks Resume

By Laura Cochrane

Jan. 8 (Bloomberg) -- Russia’s ruble climbed the most in five days against the euro and Ukraine’s hryvnia rose after the countries resumed talks over a gas-price dispute that has disrupted shipments to Europe.

The ruble gained 4.95 percent to 39.5476 per euro in limited holiday trading, from 41.6079 yesterday, at 11:22 a.m. in Moscow. Russian markets are closed and the country’s central bank, which manages the ruble to protect exports, won’t set a new official exchange rate until Jan. 11.

OAO Gazprom Chief Executive Officer Alexei Miller held talks overnight with NAK Naftogaz Ukrainy’s Oleh Dubina, Naftogaz spokesman Valentyn Zemlyanskyi said in a telephone interview. Both were due in Brussels later today to meet European Union officials.

The ruble was 2.43 percent stronger versus the central bank’s basket of 55 percent dollars and the rest euros. The currency lost 0.33 percent against the dollar.

Ukraine’s hryvnia climbed 1.46 percent per euro to 11.2484, from 11.4155 yesterday. It rose 0.57 percent against the dollar.

To contact the reporter on this story: Laura Cochrane in London at lcochrane3@bloomberg.net