Rising energy prices have pushed Russia’s currency to its strongest level against the euro in more than a year, and propelled Russian stocks to record highs.
The Russian currency settled under 84 rubles per euro on Wednesday, its strongest value since July 2020.The ruble traded slightly weaker against US currency at 72.59 rubles per dollar after hitting a three-week high on Tuesday. However, it strengthened against the greenback 0.68% last month, making it the only emerging-market currency to appreciate against the dollar in September, according to Bloomberg data.
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