The Russian rouble has recovered to its pre-war value despite western sanctions on the country's
exports and financial systems. The currency was trading at 75.5 to one US dollar on Thursday morning, compared with almost 140 to the dollar at the beginning of March when it crashed with the onest of sanctions. That is actually better than it was on 22 February, two days before the invasion, when it was at 80 per dollar.
Russia has bolstered the currency by raising interest rates to 20% – therefore encouraging investment in the rouble – and imposing capital controls which mean that people cannot swap roubles for other currencies.
The Kremlin’s threat to make European gas importers like Germany pay for their supplies in roubles – thus boosting the currency’s value – has also helped. More help has come from China and India, which have increased the amount of Russian oil they are buying thanks to generous discounts from Moscow.
Per The Guardian
basically using voodoo economics to artificially prop up its currency. So their currency is back up to Angel soft TP value instead of the dollar store TP value.
= new reply since forum marked as read
