Despite Western sanctions, Russian ruble and banks are
recovering
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By Jeanne Whalen8:00 a.m. Link copied
Russia’s ruble and banking system are showing continued
signs of recovery from the initial punch of sanctions, as
Moscow relies on energy exports and currency controls to
partly protect the nation’s economy.
After initially plummeting , the ruble has rebounded and is
edging closer to the value it held before the war began,
according to the official exchange rate. And the banking
system is gradually stabilizing as panicked customer
withdrawals subside, economists say.