The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 60 per cent against the US dollar from its lows in the first week of March.

The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7. Thanks to the recent rally, the ruble is only about 10 per cent lower than what it was before the Russian invasion of Ukraine on February 24. The ruble was trading at around 76 before the invasion, according to the data from Bloomberg.

Analysts say the post-invasion depreciation in the ruble is modest, considering the severity of European and American sanctions on Russia. As part of the sanctions, the United States and European Union froze nearly half the Russian central bank’s $640-billion foreign exchange reserves held in banks outside Russia.

Russian companies and individuals have been debarred from doing transactions in dollars and euros and nearly 400 Western firms have closed operations in Russia. A majority of the Russian banks have been cut off from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which executes financial transactions and payments among banks worldwide. These moves have cut Russia’s financial and trade transactions with Western countries.

Source
https://www.google.com/url?sa=t&source=web&rct=j&url=https://wap.business-standard.com/article-amp/international/ruble-becomes-best-performing-currency-in-march-soars-to-83-to-the-dollar-122032901631_1.html&ved=2ahUKEwi-8LTvmuz2AhVrgP0HHbQ-BqcQyM8BKAB6BAgHEAI&usg=AOvVaw0_7EqK_YghtPQNDjJe82x9

A good central bank governor and his team always know what to do when faced with issues like this. Kudos to the Russian Central bank governor even though I dont support the war. Nigerian CB governor would have collapsed the economy more if same thing had happened in Nigeria.

Wow this is a goodnews
Back to Russia.

Putin na strong man and I doff my hat for am.
Imagine the whole world against you and you still dey soar.
Everybody just dey ginger, throw sanctions up and down but my guy still dey gidigba. America sef no gree play enta Russia trap because them know say Dem o collect 2 seconds.
Long live Putin
Long live Russia

Omo the Americans simply forgot that the Russian is a fellow world power….and if they decide to run with not relying on the dollars then other countries will align with them..and that spells doom for the us dollar

Yamiriflathead:
Putin na strong man and I doff my hat for am.
Imagine the whole world against you and you still dey soar.
Everybody just dey ginger, throw sanctions up and down but my guy still dey gidigba. America sef no gree play enta Russia trap because them know say Dem o collect 2 seconds.
Long live Putin
Long live Russia

how the whole FTA members and FESHIZZY day against you abi

I'll appreciate Russian brand of capitalism



American dollar domination is syphoning African economies



If Russia hadn't pursued communism they would have been headlong match with the west

Na man you be Mr Putin

DannyFX2638:
how the whole FTA members and FESHIZZY day against you abi

Lol.. na today? Una too like suffer for that thread ahbeg, I dey try one show peeps the way but awon boiz jux dey mezebu. Suffer nor dey tire FTA members? Ebabo!!!
Fx clean me sotey I white pass pesin wey Dem use jik baff. Dem say wetin pile sitdon for ground see, small pikin wey climb tree fit no see am

As for feshizzy I just use the guy do example make e mind for dey, but na still my loyal smallie. I just send am money make e take sub this month so that e fit bomb well.

US and hypocrisy, about 10 oil Tankers from are now docking at the US ports and offloading... What it live on Aljazeera...

Putin putting them in their places

Putin using their last reserve to stabilized the rubbled ruble..

1 more day
Petrol-Ruble
Something the USA have worked for over 50 years to revert from happening, Uncle Biden made it happen in just 3 weeks.

Many leaders have been killed by USA and allies whenever they want to move away from Dollar.

China want the deal with Saudi oil on Chinese money.
Hungary is already preparing to buy Ruble for Russia oil because according to them solidarity will not heat their citizen homes.

Russia appears to enjoy a lot of good will on the world stage that the west may have underestimated.

This might prove a colossal gamble of immense implications, and may be fatal for the petrodollars in the medium to long term run.

We are seeing a realignment on the world stage. Cold War 2.0 it appears.

sehin79:
Omo the Americans simply forgot that the Russian is a fellow world power….and if they decide to run with not relying on the dollars then other countries will align with them..and that spells doom for the us dollar

If you don't import much due to sanctions and you are able to export some commodities, forex would improve. If Nigeria stops importing and exporting more, Naira would have more value.

joyandfaith:
If you don't import much due to sanctions and you are able to export some commodities, foreign would improve. If Nigeria stops importing and exporting more, Naira would have more value.

Russia said starting with oil and gas meaning everything will be in Ruble next.

We need good leaders in Africa

You will never see this news on the headlines of BBC, CNN, SKY News and Fox News.

Come and Lecture Nigeria on how to do it