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The Russian Ruble ‘Strength’ and the Sanction Challenge

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The Russian Ruble ‘Strength’ and the Sanction Challenge
A Russian ruble banknote is placed on U.S. dollar banknotes in this illustration taken, Feb. 24, 2022. Reuters/Dado Ruvic/Illustration/File Photo
Daniel Lacalle
Updated:
Commentary

There are numerous headlines showing the surprising recovery of the Russian ruble against the U.S. dollar and the euro. By the first week of April, the Russian currency had recovered all the losses against the greenback and the euro area currency.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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