The Russian rubles extends after the publication of US teacher Marc Fogel

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The ruble rose to the strongest level against the US dollar in five months on Wednesday, since the publication of an American teacher who took place in Russia to end investors’ hopes for war in Ukraine.

The currency rose to 94.2 on Wednesday on Wednesday after the deal secured the deal Return of Marc Fogelwho had been imprisoned since 2021.

The move extends to a rally that is triggered by Donald Trump’s return to the White House ruble To win 21 percent since the beginning of the year. The US President has promised to end the Ukrainklieg, and the White House said that Fogel’s release was a step “in the right direction” when the conflict ended.

The spokesman for Kremlin, Dmitry Peskov, said that the business was the result of a “intensified” contact with the White House and added that a Russian prisoner in the USA in the USA would be released in exchange.

“The expectation of negotiations between Russia and the USA about Ukraine gives investors a certain optimism,” said Alexandra Prokopenko, a scholarship holder in Carnegie Russia Euraien Center in Berlin.

“If the conversations turn out to be complicated and this optimism fades, the rubles have a more difficult time.”

Analysts said that the currency was increased by the Russian central bank due to the increased turnover of the Chinese Renminbi – Russia most traded foreign currency – which intervenes in the markets to support the exchange rate.

Rising energy prices have also supported the ruble by increasing Russia’s export sales. Brent Crude, the international oil benchmark, has risen by 7 percent since the beginning of December, while natural gas prices have increased more.

According to Russia’s complete invasion of Ukraine, the ruble settled on low stalls in 2022, which triggered several western sanctions that were actually cut Russia From the global financial system.

Although the authorities made the exchange rate by tightening currency controls, the ruble remained volatile and was hit by further US energy sanctions at the end of last year.

A contract for the end of the war in Ukraine would mean that the risk of new sanctions would be decreased and some (old) will be lifted, “said Sergey Romanchuk, an analyst for the currency market and former retail manager at Russia’s metall invest bank.

He added that a change from the US government made it more likely that “peace will be completed on Russia’s conditions”.