FX.co ★ Russian ruble among top-performers

For the previous decade, the Russian ruble has been showing spectacular resilience. Despite the recent declines caused by imposed sanctions, the currency has recouped the losses very quickly. For a long time, the ruble has been affected by two factors. One of them is the Russian government which does not support the national currency because it does not need it to be strong. The second factor is the sanctions against Russia putting a lot of pressure on RUB. However, the ruble, even in such harsh conditions, is feeling quite well, and even after the recent serious fall it was able to recover in a short time. As a result, the Russian ruble became the most volatile currency by the end of March. In early March, its exchange rate against the US dollar fell by 40% and reached 139 rubles per USD at times, but it started to recover in the middle of the month. “This is no dead cat bounce. It's a sharp and sustained recovery that made the ruble the world's top-performing currency in March. Yet all the sanctions imposed when the military actions began are still in place, and in some cases, they're even more robust,” the US National Public Radio reported.