The Russian ruble strengthened to a more than one-week high against the dollar on September 11, rising sharply after hitting its weakest mark since mid-August on September 8, as the market turns its attention to a central bank rate decision later this week. The ruble plunging to a near 17-month low in August of 101.75 to the U.S. dollar led the central bank to make an emergency 350-basis-point rate hike to 12 percent on August 15. Analysts polled by Reuters on September 11 expect the central bank to raise rates again on September 15, which could lend further support to the ruble. To see the original story by Reuters, click here.
