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Surging oil prices keep Russian ruble world's strongest currency

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#1 grog

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Posted 27 September 2017 - 08:51 AM

Surging oil prices keep Russian ruble world's strongest currency
 
 
 
26 Sep, 2017
 
 
 
Brent crude prices hit a 26-month high on the news Turkey has threatened to cut oil supplies from Iraqi Kurdistan.
 
This gave a boost to the Russian ruble, which remains the world's strongest currency against the US dollar in the last 12 months.
 
 
 
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#2 grog

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Posted 27 September 2017 - 09:20 AM

Fitch sees 'very high probability' of Russia credit rating upgrade
 
 
 
 
September 26, 2017
 
 
 
 
Russia's sovereign rating is likely to be raised, however the possible expansion of US sanctions may deter the upgrade, said the director of Fitch Ratings' Sovereigns group, Erich Arispe.
 
"Of course, the decision made on Friday [the upgrade of Russia's sovereign rating by Fitch - Ed.] shows there's a very high probability that the Russian rating will be upgraded," he told Bloomberg.
 
Arispe added the analysis by the US Congress on the impact of the possible sanctions' expansion on Russia's government debt and derivatives makes Fitch "think about the consequences."
 
READ MORE: Russia's junk credit rating down to incompetence of American rating agencies - Jim Rogers
 
According to Fitch, it is necessary to assess how any decision on public debt affects inflation, macroeconomic stability and, most importantly, the "financial flexibility of a sovereign debt."
 
 
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