The Russian rouble continued to gain against the US dollar on Monday, supported by rising oil prices and positive stock markets.
The rouble appreciated 0.1 percent to hit 27.98 against the greenback, reaching its highest level since December 19, 2008.
With oil at $125, Russian assets had little else to do but once again refresh their post-crisis highs, Reuters reported, quoting analysts at VTB Capital.
Brent crude for May delivery traded above $126 a barrel, its highest since August 2008, on the ICE Futures exchange earlier on Monday. Oil prices have risen 33 percent since February, amid concerns over the continuing unrest in the Middle East and North African nations would disrupt the oil supplies.
Russia's benchmark RTS and MICEX indexes also rose around 0.4 percent, lending support to the currency. However, the rouble remained unchanged at 33.58 against the euro-dollar basket, a measure used by the country’s central bank to monitor exchange rates.
A report the Russian economic ministry on Monday said that rouble will remain stable averaging 27.9 against the dollar between 2012 and 2014, Vedomosti reported.