Russian Ruble Tops Global Currencies in 2022 Despite Ukraine War, Sanctions

Russian Ruble Tops Global Currencies in 2022 Despite Ukraine War, Sanctions
A view shows Russian ruble coins in a photo illustration taken on Oct. 26, 2018. Maxim Shemetov/Reuters
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The Russian ruble has turned into the top-performing currency in global financial markets, despite Moscow facing a bombardment of crippling economic sanctions and financial restrictions.

Year-to-date, the ruble has strengthened by about 14 percent against the U.S. dollar. By comparison, the U.S. Dollar Index (DXY), which gauges the greenback against a basket of currencies, has advanced by roughly 6 percent.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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