Russian rouble soars to end volatile 2022 on a high

The rouble soared in its final session of a volatile year on Friday, but remained on course for hefty losses in December, after fears over the impact of a Western oil price cap on Russia’s export revenues dominated this month’s trading.

The rouble has lost around 11% to the dollar since a price cap on Russian oil exports came into force on Dec. 5, although analysts said the technical impact will be felt more strongly in January-February.

By 1344 GMT, the rouble was 4% stronger against the dollar at 69.30, recovering ground from the eight-month low of 72.9175 hit in the previous session, reported Reuters.