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30 Dec 2014
Russian Ruble recovers versus USD
FXStreet (Mumbai) - The Russian ruble rebounded from losses seen in the Asian session and traded higher against the greenback ignoring falling oil prices.
Currently, USD/RUB trades at 57.783, losing -0.55%, on the day moving away from day’s low hit at 54.89 levels some time ago. The ruble jumped against the US dollar after release of Russia forex reserves data, indicating Russian Central Bank’s efforts to stall to the downfall in the ruble. Russia's forex reserves fell from USD 510.5 billion at the beginning of 2014 to USD 398 billion currently, the central bank informed. The Central Bank of Russia spent more than USD 100 billion to slow the depreciation of ruble, as the Russia-Ukraine crisis evolved throughout the year.
USD/RUB Technical Levels
To the upside, the next resistance is located at 59.19 (Dec 29 High) levels and above which it could extend gains to 61 levels. To the downside, immediate support might be located at 56 and below that at 52.87 (Dec 23 Low) levels.
Currently, USD/RUB trades at 57.783, losing -0.55%, on the day moving away from day’s low hit at 54.89 levels some time ago. The ruble jumped against the US dollar after release of Russia forex reserves data, indicating Russian Central Bank’s efforts to stall to the downfall in the ruble. Russia's forex reserves fell from USD 510.5 billion at the beginning of 2014 to USD 398 billion currently, the central bank informed. The Central Bank of Russia spent more than USD 100 billion to slow the depreciation of ruble, as the Russia-Ukraine crisis evolved throughout the year.
USD/RUB Technical Levels
To the upside, the next resistance is located at 59.19 (Dec 29 High) levels and above which it could extend gains to 61 levels. To the downside, immediate support might be located at 56 and below that at 52.87 (Dec 23 Low) levels.