Russia’s ruble hit its strongest level in 7 years despite massive sanctions. Here’s why
2022-06-24 09:22:45 source：CNBC
June 23, 2022
Russia’s ruble hit 52.3 to the dollar on Wednesday, its strongest level since May 2015. On Thursday afternoon in Moscow, the currency was trading at 54.2 to the greenback, slightly weaker but still near seven-year highs.
That’s a world away from its plunge to 139 to the dollar in early March, when the U.S. and European Union started rolling out unprecedented sanctions on Moscow in response to its invasion of Ukraine.
The ruble’s stunning surge in the following months is being cited by the Kremlin as “proof” that Western sanctions aren’t working.
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https://www.cnbc.com/2022/06/23/russias-ruble-is-at-strongest-level-in-7-years-despite-sanctions.html