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Ruble Rebounds on Hopes for Mild Sanctions

April 29, 2014 at 12:30 by Vladimir Vyun

Russian 5,000-ruble banknotesThe Russian ruble gained today on speculations that sanctions against the nation will not be too severe and the conflict with Ukraine will not result in a full-scale war. The ruble still remains among the worst-performing currencies.

It is expected that sanctions from the United States and the European Union against Russia for its involvement in the conflict with Ukraine will be relatively mild. The Russian troops are moving away from the border with Ukraine, giving hope that tensions will not escalate. The currency was falling previously on concerns that the measures from the Western countries against Russia will hurt the economy of the Eastern European nation.

USD/RUB went down from 35.8584 to 35.5865 as of 12:30 GMT today.

If you have any questions, comments, or opinions regarding the Russian Ruble, feel free to post them using the commentary form below.

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