The Russian ruble regained ground against the U.S. dollar and the euro on the domestic foreign exchange market on Wednesday morning after a steep decline in the previous two days in the wake of the U.S. rating downgrade.
The ruble opened 33 kopecks up against the greenback to 29.40 rubles to the dollar and 24 kopeks against the single European currency to 42.05 rubles to the euro on the MICEX on Wednesday, with investors in a positive mood on global markets following the U.S. Federal Reserve’s decision to keep its key rate unchanged at close to zero for two more years.
Global stocks, which had been tumbling since late Friday when SP took the decision to cut the U.S. top rating by one notch to AA-plus, recovered their losses on Tuesday following the Fed’s interest rate move.
The ruble-denominated MICEX opened 1.60 percent up on Wednesday to 1,521.70 points after a two-day massive sell-off triggered by the SP downgrade.