economy
Bloomberg: Ruble Becomes Strongest Currency Against Dollar
Bloomberg reported that the Russian ruble has become the world's strongest currency against the US dollar, strengthening by about 12 percent.
TL;DR
- The Russian ruble has become the world's strongest currency against the US dollar, with a 12% strengthening.
- This marks the best quarterly performance among global currencies against the dollar.
- The ruble has reached its highest value since February 2023, trading at 72.6 rubles per dollar.
- For the second consecutive year, the ruble's performance has defied official and market forecasts predicting its weakening.
- Nearly 60% of foreign import payments are now made in rubles.
- Low demand for foreign currency in Russia is attributed to high domestic interest rates and reduced imports.
- A strict monetary policy supports the ruble's strength by keeping capital in the country and increasing investment attractiveness.