INSUBCONTINENT EXCLUSIVE:
Russia's ruble surged to its strongest level against the United States dollar in more than six months on Thursday, buoyed by renewed
United States -Russia ties and hopes in Moscow for sanctions relief.The ruble has gained about 14% since United States President Donald
Trump returned to the White House in January, reversing losses from late 2024.On Thursday, Russia's Central Bank set the official exchange
rate at 88.5 rubles against the United States dollar, its highest level since August
While Russia does not have a fixed exchange rate, the Central Bank's figure reflects market trends.The rebound follows a steep drop in the
war.Russia's stock market has also climbed 17% since the start of 2025, with analysts at state-run lender Sberbank attributing the gains
in part to "reduced geopolitical pressure."The market rally comes as high-level United States -Russia diplomacy resumes
Earlier this week, Russian Foreign Minister Sergei Lavrov met with United States Secretary of State Marco Rubio in Saudi Arabia, marking
the first such talks since Moscow launched its full-scale invasion of Ukraine in February 2022.In a statement after the meeting, United
States officials spoke of "historic economic and investment opportunities" with Russia following a "successful end to the conflict in
Ukraine."Before Russia's invasion, the ruble traded at around 75-80 against the United States dollar.
