The Russian rouble rose to a two-week high past 61 per dollar on Tuesday, clinging on to large gains made in the previous session, thanks in part to still-high oil prices.

A "strong" RUB would approximate parity value with USD, EUR; but that trend is exactly what the CBR has wanted to avoid since March 2022.

RUB strongest "gain" in value to USD was Feb 2013, USD:RUB, 1:30.11.

Why? 1. RU plans to exit USD reserve trading; 2. RUB par val to USD (RUB≥USD, 1≥1) cancels discounted cash value of RU goods sold per unit to emerging market trade "partners" with whom RU banks maintain bi-lateral transaction settlement agreements.