MOSCOW: Russia's rouble moved sharply higher on Friday, hitting its strongest against the dollar and euro this year as investor risk appetite was bolstered by stable oil prices and the European Central Bank's trillion euro stimulus plan.
The rouble was around 1.9 percent stronger against the dollar at 59.66 and gained 2.3 percent to trade at 65.49 versus the euro.
Volumes were thin, accentuating market moves, and analysts said growing signs that a ceasefire in east Ukraine was taking hold provided a further lift to the rouble.
"The decisiveness with which the ECB is stimulating the economy instils optimism in the market and is feeding risk appetite. This is a clear positive for emerging market currencies," analysts at Nordea bank said in a note.
The ECB said on Thursday it would start printing money to buy bonds next Monday, pushing the euro lower but lifting the prices of many asset classes globally.
Brent crude, a crucial driver for all Russian assets, held above $60 a barrel for the second day in a row on Friday in a positive signal for investors. At 0945 GMT, it was trading 0.4 percent higher at $60.7 per barrel.
The rouble is up almost 4 percent against the dollar and around 6 percent against the euro this week.
Russian shares, meanwhile, were mixed on Friday, mainly reflecting swings in the Russian currency.
The dollar-denominated RTS index was up 0.9 percent to 921 points, while its rouble-based peer MICEX traded 0.9 percent lower at 1,744 points.
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