Russian Ruble: There is a war going on between Iran and the US for the last several months, due to which many other countries are also facing problems. But meanwhile, there is a country whose silver is becoming silver only. This country is Russia, whose currency has become the number one currency due to oil sales due to the war between Iran and America.

ruble vs dollar
According to Bloomberg data, the ruble has strengthened by about 12 percent since the beginning of April, reaching 72.6 per dollar. This is considered to be the strongest level of the ruble after February 2023. For the second consecutive year, the ruble has remained strong, contrary to market and government estimates. Earlier it was estimated that Russia’s currency would weaken, but the current situation has changed the picture.

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Government policies provided support
The sanctions imposed on Russia and the government’s strict monetary policy have also supported the ruble. Russia has kept interest rates high to control huge government spending during the Ukraine war. This reduced the demand for foreign exchange and strengthened the ruble.

Russian minister said…
Russia’s Economy Minister Maxim Reshetnikov recently said that due to the current economic model, the ruble may remain strong in the coming years. If tensions continue in the Middle East and oil prices may increase, the ruble may strengthen further and reach 65-70 per dollar.

Meanwhile, Finance Minister Anton Siluanov has said that the government is not worried about the strong ruble at the moment, because oil income is still enough to meet the budget needs.

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