Sanctions against Russia have pushed the country’s economy into what could be its biggest slump in decades, but the country’s currency has gone in a different direction.
The ruble strengthened this week to levels not seen since 2018, making it the second-best performer against the dollar this year, based on analysis of Market Data by Cointelegraph. Dow Jones on 56 currencies, just behind the Brazilian real. The ruble is up 16% against the greenback in 2022 and is up nearly 150% since it bottomed days after Russia invaded Ukraine three months ago.
https://www.wsj.com/articles/russias-economy-is-tankingbut-the-ruble-is-soaring-11653559916?mod=rss_markets_main Russia’s Economy Is Tanking but the Ruble Soared. Here’s Why.