Ruble Hits New High

        MOSCOW--The Russian ruble reached its highest level against the dollar since December in early trading Friday as local investors continued to unload foreign currencies.
        The ruble has gradually recovered in the past two months but accelerated this week as households began to sell foreign currencies they had bought in 2014 and as the need to repay debt in foreign currencies diminished.
        The dollar dropped below 51 rubles Friday for the first time since early December and the euro temporarily dropped below 54 for the first time since early November, before recovering slightly.
        The Russian ruble is experiencing inflows encouraged by the central bank's key rate of 14% and the stabilization of Brent crude oil prices close to $60 a barrel.
        The ruble has been hitting new highs on a daily basis recently and will support the dollar-denominated RTS while hurting Micex, where exporters' stocks have been hit most of all.
        Write to Olga Razumovskaya at olga.razumovskaya@wsj.com
        Subscribe to WSJ: http://online.wsj.com?mod=djnwires
        (END) Dow Jones Newswires
        April 10, 2015 05:00 ET (09:00 GMT)

#FX
#Forex
#Ruble
#NewHigh