Rouble Rebounds: Russia-U.S. Deal Causes Currency Surge

The Russian rouble jumped nearly 3% against the U.S. dollar following a diplomatic deal between Russia and the United States. This development, coupled with President Trump's vow to resolve the Ukraine conflict, has bolstered the rouble by 15% this year against the dollar.

The Russian rouble experienced a significant boost of nearly 3% against the U.S. dollar on Wednesday following a notable agreement between Russia and the United States. The deal secured the return of an American school teacher who had been detained and sentenced in Russia.

As of 0910 GMT, the rouble stood at 93.70 against the dollar, marking its highest value since October 4, 2024. This appreciation reflects a 15% increase against the U.S. dollar since the start of the year. The rouble also rose 1.8% to 12.68 against China's yuan on the Moscow Stock Exchange, underscoring its strength in international currency markets.

Denis Popov, a representative from PSB Bank, highlighted the optimistic international climate and the anticipation of reduced geopolitical tensions as key drivers of the rouble's strength. The potential de-escalation of the Russia-Ukraine conflict, following President Donald Trump's commitment to bring it to a swift conclusion, has been instrumental in the currency's rally.

(With inputs from agencies.)