Easing geopolitical tensions reflect on Russian economy positively: Central Bank

By Gokhan Ergocun

ISTANBUL (AA) - The Russian Central Bank, the Bank of Russia, has announced that easing in geopolitical tensions reflected on the country's economy positively.

The ruble appreciated against the US dollar by 10.5% month on month, it said on Monday.

"The geopolitical environment also fuelled the rise in the Russian stock market – the MOEX Russia Index gained 8.6% month on month," the bank noted, adding: "Corporate bond and OFZ yields predominantly decreased and the spreads between bonds of various rating groups narrowed."

The bank also said ruble-denominated instruments demonstrated the highest monthly yields, with the most notable rises in shares reported by companies from the sectors that are most sensitive to sanctions.