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Forex News: Russian Ruble Climbs Against U.S. Dollar After Russia

Russian Ruble Climbs Against U.S. Dollar After Russia Rate Decision

04/27/2018 - 07:23:00 (RTTNews)

(RTTNews) - The Russian Ruble advanced against the U.S. dollar in the European session on Friday, after Russia's central bank decided to leave its key interest rate unchanged as the bank judged that the potential for key rate reduction to shape neutral monetary conditions shrank somewhat.

The Board of Directors of the Bank of Russia said they maintained the key rate at 7.25 percent. The bank had lowered its rate by 25 basis points each in March and February.

The bank assumed that monetary policy will become neutral in 2018.

The Russian ruble rose to 62.24 against the greenback, from a low of 62.79 seen at 3:45 am ET. On the upside, 60.00 is likely seen as the next resistance for the Russian Ruble.

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