An unprecedented raft of Western sanctions caused the ruble’s exchange rate against the dollar – which had hovered between 70 and 80 rubles in the year before Russia’s invasion of Ukraine – to collapse to 150 rubles in early March.
Why has the Russian ruble recovered?
An unprecedented raft of Western sanctions caused the ruble’s exchange rate against the dollar – which had hovered between 70 and 80 rubles in the year before Russia’s invasion of Ukraine – to collapse to 150 rubles in early March.