FX.co ★ Everyone keeping tabs on Russian rouble

Rarely there is news that can grab the attention of every country in the world. However, the Russian rouble coped with the task and became an interest of everyone. Delivering a speech in the UK, Head of the U.S. Department of State John Kerry admitted that everyone is interested in the “rouble's rally” and monitor the exchange rate. “Everybody is watching the situation with the Russian rouble”, an information agency said citing Kerry. The Russian rouble strengthened after the oil prices stabilization. The Finance Minister of Russia noticed that the national currency would rebound in 2015. The currency became unstable as long as the central bank allowed the rouble float freely in the previous month. Crude oil is the key export product for Russia. A run of bad luck started with the oil price drop to $60 a barrel. Some of the experts expect the Russian rouble to stabilize within several days. However, the demand for the euro and the U.S. dollar is unpredictable and it still remains the key risk. “The fall in the rouble is driven largely by emotions and speculative mood”, said Dmitry Peskov, the spokesman for the Russian President.