The ruble is the biggest gainer among 31 major currencies around the world, based on to data tracked by Bloomberg and reported by Business Insider.
Russia’s currency has also overtaken the Brazilian real, which is up 9% in 2022.
NEW 🚨 Russian ruble becomes world’s top performing currency in 2022, as it’s up 11% against the dollar – Bloomberg
— Insider Paper (@TheInsiderPaper) May 12, 2022
The ruble’s advance comes following Moscow’s imposition of a slate of capital controls to “prop up the economy to offset Western sanctions” over their country’s conflict with Ukraine.
Russia has been demanding ruble-payments for natural gas supplies from European countries and forcing exporters to sell foreign-exchange holdings, the report states.
In April, analysts predicted that Russia was about to see its largest profits
..... (Read more by following the post link below)