(Bloomberg) -- Surging energy prices have helped insulate the ruble against market turbulence in September, keeping it on course to end the month as the only emerging-market currency to appreciate against the dollar. That's despite the threat of expanded U.S. curbs on its state debt. āThe main factor is the rise in oil and gas prices, which should continue until the end of the year, and without talks about new sanctions, the ruble should be even higher,ā says Iskander Lutsko, chief investment strategist at ITI Capital, who expects the Russian currency to strengthen to 71 per dollar in October.
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