Posted Apr 12, 2022, 4:52 PMUpdated on Apr 12, 2022 at 6:24 PM
The Russian currency confirms its spectacular recovery despite the chaos in Ukraine. The dollar thus stands at 84 rubles, its level at the time of the invasion of Ukraine. It had even fallen below, to 79 rubles, last week. The euro is worth 91 rubles, less than the 94 before the start of the war. This rebound took place in very low volumes on the Russian market, dominated by companies and a few banks such as Gazprombank. On the dollar-ruble, daily activity was $3 billion in April compared to around $20 billion in early January.
The ruble is still losing 11% against the dollar and 7% against the euro this year. Since its reopening on March 24, the Moscow Stock Exchange has climbed to 13% in early April, before falling and stabilizing.
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