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Rouble firms past 60 vs dollar despite eased capital controls — News For Finance

Rouble firms past 60 vs dollar despite eased capital controls

Coins of one Russian rouble and one Euro are seen in this picture illustration taken April 6, 2022. REUTERS

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June 8 (Reuters) – The Russian rouble climbed on Wednesday, firming past 60 per dollar, despite Russia’s decision to ease some capital controls and expectations of an interest rate cut at an upcoming central bank meeting.

The rouble has become the world’s best-performing currency so far this year, boosted artificially by capital controls and supported by high prices for commodities, Russia’s key exports.

At 1211 GMT, the rouble was 2.2% stronger against the dollar at 59.66 on the Moscow Exchange , leaving the relatively narrow range of 60.0-62.5 it was in over the past few days after rapid swings in May.

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It firmed more than 3% to 63.47 against the euro .

The…

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