Russian ruble emerges stronger, 3 months into the Russian-Ukraine war.

​Edited By Araba, Olawale Enifenilanfe 

...the ruble is currently trading at 74.49 rubles per dollar.


April 25, 2022:


Despite interest rate cuts, Russian ruble holds steady against the dollar


On Sunday, Russia entered the third month of its invasion of Ukraine, with no sign of an end in sight. Despite severe pushback in the shape of the toughest economic sanctions ever imposed on a country, the ruble, the Russian currency, appears to be strengthening.


What’s become evident is that, despite an enormously broad package of sanctions on Russia’s government and oligarchs, as well as an exodus of foreign enterprises, the moves are mostly ineffectual if foreign nationals continue to consume Russian oil and natural gas, which supports the ruble.


On Feb. 24, the first day of the invasion, the ruble traded at 81 rubles per dollar. At the time of writing this article, the ruble is currently trading at 74.49 rubles per dollar. This figure comes after Russia’s central bank cut back on its hawkish stance by reducing its interest rate.




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