Rouble climbs off record low, Russian stocks soar as central bank eyed

The weakening in the rouble after the invasion of Ukraine is expected to dent living standards in Russia and to stoke inflation that is already close to 9%

The rouble firmed on Friday after hitting all-time lows in the previous session when Russia began invading Ukraine, while stock indexes rose sharply after their biggest one-day fall on record.
 

No Russian assets were left unscathed in heavy selling on Thursday. The fighting in Ukraine continued on Friday.

At 0722 GMT, the rouble gained 2.3% against the dollar to 83.30 after hitting a record low of 89.60 in highly volatile trading on Thursday.

"We expect the dollar to stay within a range of 83-85 to the dollar," Promsvyazbank said in a note.

Against the euro, the rouble firmed 2.3% to trade at 93.49