Russian Ruble Nears 4-week High Versus Dollar

Russian Ruble Nears 4-week High Versus Dollar
The newly designed Russian 100-ruble banknotes are seen at the Goznak printing factory in Moscow, Russia, on July 6, 2022. Moscow News Agency/Handout via Reuters
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MOSCOW—The ruble firmed to a near four-week high against the dollar in early trade on Friday, supported by month-end tax payments that boost demand for the Russian currency, while shares in fertilizer producer Phosagro surged after strong results.

At 0704 GMT, the ruble was 0.5 percent stronger against the dollar at 59.20 after briefly hitting 57.70, a level last seen on July 25.