Ruble Strengthens as Yields Steady on Crude Oil Advance, Taxes - Bloomberg:
"The ruble strengthened, extending last week’s gains, as crude rallied and companies paid mineral extraction taxes.
The currency rose 0.2 percent versus the dollar to 32.251 by 1:23 p.m. in Moscow after a 1 percent advance last week. The yield on benchmark OFZ bonds due February 2027 was steady at 7.58 percent.
Oil, Russia’s main export earner, rose for a fourth day, adding 0.4 percent to $108.44 per barrel in New York. The tax period in the world’s biggest energy exporter continues until the end of the week. The payments support the currency as companies convert export revenue into rubles."
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