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Ruble surges 10% after progress in Ukraine-Russia talks

People walk past a currency exchange office screen displaying the exchange rates of US Dollar and Euro to Russian Rubles in Moscow's downtown, February 28, 2022. (AP Photo/Pavel Golovkin, File)
People walk past a currency exchange office screen displaying the exchange rates of US Dollar and Euro to Russian Rubles in Moscow's downtown, February 28, 2022. (AP Photo/Pavel Golovkin, File)

The ruble, which fell sharply following Russia’s invasion of Ukraine, surged by more than 10 percent against the dollar on Tuesday following progress in talks between Moscow and Kyiv.

The Russian currency stood at 85.42 rubles to the dollar at around 1245 GMT. It had plunged to an unprecedented level of 150 to the greenback in recent weeks.

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