The Russian ruble was approaching a 5-year high against the euro on Monday, showing the unprecedented stability of the Russian currency in light of Western sanctions imposed on Moscow.
According to data from the Moscow Stock Exchange, the Russian ruble exchange rate rose more than 1% to trade just above the level of 65 rubles per euro, with the Russian currency soon to post the best performance against the european. money since June 2017.
Russia’s currency has also made similar gains against the U.S. dollar as it trades above 63 rubles per dollar, hovering near the strongest exchange rate against the dollar since February 2020.
The rise of the Russian currency occurs after it fell to historic levels in the second half of March, as it exceeded the level of 140 rubles per dollar.
At the beginning of last March, the Russian Central Bank announced a set of measures to achieve financial and economic stability in Russia, the most notable of which is to force Russian exporters to sell 80% of foreign exchange earnings on the Stock Exchange. Moscow values.
Notably, the Russian ruble was ranked in 2022 as the best performing currency in the world against the dollar, according to a report published by the Bloomberg Agency last week.
Source: RT
Source: Arabic RT
