The Russian rouble firmed more than 6% against the euro on Monday to a near seven-year high, boosted by capital controls, strong oil prices and an upcoming month-end tax period.
By 1338 GMT, the rouble had gained 6.3% to trade at 58.75 versus the euro , its strongest point since early June 2015.
The rouble is being driven by export-focused companies that are obliged to convert their foreign currency revenue after the sanctions froze nearly half of Russia's gold and forex reserves. "Closer to autumn, the exchange rate may start to stabilise nearer to the 60-65 level as imports recover and restrictions are potentially lifted."
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