After a precipitous fall at the beginning of the war in Ukraine and the imposition of large-scale Western sanctions, the Russian ruble has surged back over the past two and a half months. From 120 rubles per dollar on March 11, the currency is now valued at around 55 rubles per dollar, and banks can […]
The Paradox of a Strong Ruble
Russia’s task for the rest of the year is to weaken its currency.
