Business

Russia’s Economy Is Tanking but the Ruble Soared. Here’s Why.

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.

Edmund DeMarche

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