Around the World's Markets: Moscow

THE ROUBLE jumped almost 15 per cent yesterday to 13.0011 against the dollar, up from the previous session's 15.0514. The sharp rise came ahead of the settlement today of an estimated $2bn in forward currency contracts. The previous settlement last month saved banks hundreds of millions of dollars in settling rouble-dollar forward contracts written to foreigners.

Shares on dollar denomated RTS index rose nearly 9 per cent to 51.89, although the index is still 90 per cent down on its high.