JUST IN: #Ruble Increase Massively As #Russia Beat Western Sanctions—Amid Russia invasion in Ukraine, Russian pushback to harsh sanctions has borne fruits, with the currency now stronger than it was on the day of the invasion of Ukraine.
The ruble had earlier plummeted to a record low of 138 rubles per dollar as a result of Western sanctions, bringing back memories of the currency’s battering during the 1998 Russian financial crisis. Nonetheless, Russia’s financial resilience has been demonstrated, as the country’s currency has outperformed its value before the invasion of Ukraine.
On Feb. 24, the first day of the invasion, the ruble traded at 81 rubles per dollar. At the time of writing this article, the ruble is currently trading at 78 rubles per dollar.
