Ruble Becomes World's Best Performing Currency

Russian Ruble Becomes World’s Best Performing Currency, Reaches Seven Year High Against Dollar Despite Sanctions

Sundance

The New York Times reported this.  There is a certain irony in the New York Times outlining the consequences of the U.S. led sanctions are essentially that western governments and NATO countries are essentially punishing themselves with continued sanctions against Russia.  Then again, the WEF coalition doesn’t really seem to care as long as they can continue chasing their Build Back Better agenda.

 The ruble cemented its unlikely status as the world’s best-performing currency, rising to new multiyear highs this week. Since collapsing in the weeks after Russia’s invasion of Ukraine, which triggered sweeping international sanctions aimed at crippling the Russian economy, the ruble has come roaring back.

On Tuesday, it traded at its strongest level against the U.S. dollar since June 2015. It has gained about 35 percent so far this year, beating every major currency, and has more than doubled from its post-invasion low.

[…] Higher earnings from oil and gas exports, which have surged as prices rise and demand in Asia makes up for cutbacks in Europe, have kept the ruble elevated. At the same time, Russian imports have fallen sharply, partly the result of many foreign companies pulling out of Russia, which also support the ruble. (read more)