Rouble up 1st day in 8 on Greek swap

The Russian currency gained 0.5 per cent to 29.545 per dollar in morning trading. The rouble appreciated against the dollar for the first time in eight days as Greece's bond swap signalled progress in resolving Europe's debt crisis, stoking appetite for riskier assets. Bond yields fell. The Russian currency gained 0.5 per cent to 29.545 per dollar in morning trading in Moscow, after weakening every session since February 27. The country's 140 billion roubles (Dh17.4 billion) of bonds due August 2016 snapped two days of declines, pushing the yield down three basis points, or 0.03 percentage point, to 7.38 per cent. Urals crude, the country's chief export blend, closed at $123.74 per barrel on Friday, up 1.2 per cent from when the rouble last traded on Wednesday. From: Gulfnews