Russian Ruble Firms Past 57 to the Dollar for First Time in Four Years

Russian Ruble Firms Past 57 to the Dollar for First Time in Four Years
A Russian ruble banknote is seen placed on U.S. dollar banknotes in this illustration taken on March 1, 2022. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

The Russian ruble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls.

The ruble has firmed about 30 percent against the dollar this year despite a full-scale economic crisis in Russia.