Rouble-dollar rate highest for 7 years
28 Feb, 2007 04:20
The rouble has soared to its highest level against the dollar for 7 years. Analysts say it will continue to appreciate against the American currency and is likely to hit the ‘26 roubles to the dollar’ mark in the near future.
According to analysts, the key reason why we have seen the rouble rise against the U.S. dollar is the situation at the Forex market.All the major currencies transcending against U.S. dollars have been seen after some rumours and some expectations that the European Central Bank will further increase its interest rates, which will make European currency more attractive for American investors.