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Russian Ruble Rallies Below 50 Per Dollar

Russia's ruble currency gained value and traded at a rate better than 50 per dollar on April 15 for the first time since November 2014.

The ruble strengthened for a third straight day, reaching between 49 and 50 per dollar.

It has gained 22 percent since the beginning of the year.

Falling oil prices and Western sanctions imposed on Moscow for its role in the Ukraine crisis had triggered the ruble’s worst collapse since 1998. The currency fell briefly to 80 rubles per dollar in mid-December.

Analysts say this year's recovery in crude prices and an easing of the conflict in eastern Ukraine have supported the ruble's rise.

But they warn that the rally may be short-lived, with the Russian central bank expected to cut its key interest rate at the end of the month.

Based on reporting by and Reuters

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