🇷🇺 Russia’s ruble has surged to become the best performing global currency, posting this year’s strongest gains against the dollar to outpace even the traditional safe haven of gold.

The ruble has strengthened 38% versus the dollar on the over-the-counter market since the beginning of this year, data compiled by Bloomberg shows.

While the US greenback has reeled from mounting pressure caused by US President Donald Trump’s escalating tariff wars, Russia’s currency has also been buoyed by factors unique to the country, including record-high local interest rates.

“Unlike many emerging-market currencies, the ruble is not facing pressure from capital outflow, caused by global investors’ retreat from riskier assets,” said Sofya Donets, an economist at T-Investments. “Capital controls have largely shielded Russia from this” while high borrowing costs support the currency, she said.

Domestic factors have amplified the ruble’s gains against the weakening greenback, even as sweeping sanctions imposed by the US and its allies over the February 2022 invasion of Ukraine remain in place. While a strengthening currency may be welcome news for inflation hawks, it risks damping energy revenue when the state is spending massively on military needs and social programs.

Foreign investors, undeterred by lingering sanctions risks, are turning to countries that remain on good terms with Russia to gain exposure to high-yielding ruble assets, said Iskander Lutsko, the Dubai-based head of research and portfolio management at Istar Capital.

On the top of that, Russian companies are eager to refinance prohibitively expensive local-currency debt, using much cheaper yuan-denomination, which is driving additional conversions of foreign currency into rubles, Lutsko said.

Bloomberg || Telegraph

👍🏻 Like for Russia-Putin, share for USA/Nazi/NATO 卍

God bless mother Russia.

God bless Putin.


Like for Rubles.

Share for Dollars.

This is what Rubles for Oil gives you.

Economic Sanctions is working very well

Story.

How many countries trade in rubles?

.

Wow

lol... only spent in russia... why not?

Curdlebug:
lol... only spent in russia... why not?

Ignorance

Nigerian naira left the group chat....

Russia to the world

And Nigeria naira is worst.




Useless country

Ok

Is Naira spent in America?

Curdlebug:
lol... only spent in russia... why not?

Interesting

Oil

dfrost:
Story.

How many countries trade in rubles?

It is now Rubles for oil and gas by the EU...

EU must get sense by fire 🔥

A country under sanctions o

Impressive...!

That's what high self-sufficiency and exports can do for a nation.

When I tell you APC, PDP and LP supporters that LEADERSHIP is way beyond winning elections, una go dey insult una parents.

Russia is beginning to see the need to develop their country better, and that's a good thing...

I’ve a brainwashed Nigerian friend

Everyday he believes the Russian economy is decimated

My favorite world leader today is China’s Xi jinping.
Followed by Russia’s Putin!

World power has shifted significantly away from the collective west! The earlier they realize it the better

There's nothing like production power. When a country is blessed with resources and they manage it very well, it is easier to flourish. I wish our leaders could do the same and make naira among the best currencies in the world.

Curdlebug:
lol... only spent in russia... why not?

Like Nigeria Naira that is trade all over the world abi and yet can't perform

In 2022, they said NATO sanctions would turn the ruble to rubbles, but three years later, the ruble is yet to collapse. Instead, it has kept going up and up, and continues to rank as the best performing currency, year in and year out.

Putin is a great leader, even with 27,000 sanctions from the West, an ongoing war in Ukraine they have the highest purchasing power parity in the whole of Europe.
Many European countries are in recession while Russia economy is booming with western companies who left at the beginning of the conflict now making efforts to go back to Russia