The Russian rouble surged past 81 to the U.S. dollar on Thursday, marking a 40% increase since the beginning of 2025.
The currency's rise is largely attributed to rising oil prices, which have bolstered Russia's main export sector. At 0900 GMT, the rouble was up by 1.5%, reaching 80.90 to the dollar in light trading ahead of the Orthodox Easter holiday. Oil prices saw a 3% jump on April 17, further supporting the rouble's gains.
This marks the rouble's strongest position since June 28, 2024, signaling a notable recovery for the Russian currency. The rouble has gained significantly since the start of the year, buoyed by expectations of easing tensions between Russia and the United States. Despite this, the rouble has remained unaffected by recent comments from U.S. Secretary of State Marco Rubio, who suggested that President Donald Trump may soon abandon efforts to broker a peace deal between Russia and Ukraine unless clear progress is made.
Against the Chinese yuan, which the Russian central bank uses for foreign exchange interventions, the rouble was up 0.1%, trading at 11.08 on the Moscow Stock Exchange. The rouble's resilience reflects both the strength of Russia's energy exports and the ongoing shift in global financial dynamics.
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Azerbaijan showcased its green transition plan at the Copenhagen Ministerial, targeting 30% renewable energy by 2030. The country also secured a $300 billion climate finance pledge and helped finalize a key carbon market agreement, highlighting its growing role in global climate action.
European foreign ministers signed the Lviv Statement supporting a special tribunal and a U.S.-backed ceasefire, during a visit to Ukraine that included a memorial tribute to fallen soldiers.
White House economic adviser Kevin Hassett said on Friday that early signs ahead of this weekend’s U.S.-China trade talks in Switzerland appear positive, with both sides showing mutual respect and a constructive tone.
A new U.S.-supported initiative to deliver humanitarian aid into Gaza is expected to start operating shortly, U.S. Ambassador to Israel Mike Huckabee said Friday, though specific details are yet to be made public.
U.S. President Donald Trump signaled support for steep tariffs on Chinese imports, calling 80% levies “right” ahead of high-level trade talks in Geneva aimed at easing escalating tensions between Washington and Beijing.
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