The ruble has taken the position of the world’s most strengthening, as well as the most profitable currency since the beginning of 2022. This is reported by financial analysts of Reuters.
The sharp strengthening of the ruble in his report recognized the financial analysts group publication Reuters.
“The Russian ruble rose on Monday to a near seven-year high against the dollar on the Moscow Exchange,” the publication said.
Reuters attributed the strengthening of the Russian currency to government controls on capital flows and tax payments due at the end of the month.
The publication reports that the rouble-dollar ratio today is close to its July 2015 level, while in the rouble-euro ratio it is close to May 2015. The Russian rouble has thus become the world’s most profitable currency since the beginning of 2022.
Its profitability is mainly due to Russia’s high revenues from exports of commodity groups, a sharp decline in imports, and the ban on citizens withdrawing their savings in foreign currencies.
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