The currency lost a lot of value after the Russian attack on Ukraine and the sanctions that were then decided. Recently, however, it has revalued significantly.
(Photo: Reuters)
Frankfurt It seems paradoxical: although the West has decided on ever tougher sanctions against Russia, the Russian ruble has been appreciably appreciating again for some time. Since its low on March 7th, it has gained more than 80 percent in value against the euro and the dollar.
Directly after the start of the war and the announcement of the first sanctions, it had slumped drastically. Experts see several reasons why the Russian currency has now recovered.
First Is this related to sanctions? They weaken the Russian economy, of course, but their effect on the ruble exchange rate is less clear. This is because the Russian currency is currently not freely convertible. That means: The market does not function as in normal times.
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