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Latest developments in Russia's war in Ukraine. Always EDT.
On Friday, the ruble rose to near four-week highs against the dollar and euro. This is supported by month-end tax payments that boost demand for the Russian currency.
The ruble rose 0.7% against the dollar at 59.12 after briefly reaching the last seen level of 57.70 on 25th July. Nearly four-week high of 58.5325 during the session.
"By the end of the year, we expect the ruble to begin to gradually depreciate against the dollar or euro across the 65-70 corridor," said Maxim Petronevic, senior economist at Otocriti Research. .
