The rouble rebounded after slumping to a more than 18-month low against the dollar on Monday in a volatile session, still hampered by reduced foreign currency supply but eventually latching on to higher oil prices to gain ground.
Events in the Middle East were hurting risk appetite. The Israeli military called up 300,000 reservists, two days after Hamas fighters killed hundreds of Israelis and seized dozens of hostages in a raid that shattered Israel’s reputation of invincibility.
By 1500 GMT, the rouble was 0.7% stronger against the dollar at 99.75 , recovering from hitting 102.3450 earlier, its weakest point since March 23, 2022. The Russian currency tumbled to a record low 121.5275 in the weeks after Moscow’s February 2022 invasion of Ukraine.
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