How Russia made its ruble the world’s top-performing currency ...Middle East

Quartz - Economy
How Russia made its ruble the world’s top-performing currency
source : Quartz ( Middle East ) () 5
The Russian ruble has emerged as the best-performing currency in 2022, despite wide-ranging sanctions imposed for its invasion of Ukraine. It is nearly 30% higher against the US dollar, as of May 23, for the year.How did the Russian currency make a dramatic recovery from its record low of 143 rubles to the dollar on March 7?The rally, experts say, is largely artificial, the result of capital controls imposed by Moscow in the wake of Western sanctions. While the ruble may look promising on paper, in reality, many money changers have stopped dealing in the currency because of the extreme volatility in its exchange rate due to low trade volumes.Read the rest of this story on qz.com. Become a me

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