After its first default on international debt in a century amid a bitter war with Ukraine, one would expect the Russian currency to suffer. But Russia has the opposite problem.
The Russian ruble hit a roughly seven-year high against the US dollar, a stunning turnaround for a currency that earlier this year was in freefall after Russia invaded Ukraine. As of Wednesday, the ruble had risen 42% against the dollar this year, making it the best performer against the greenback, according to a Dow Jones Market Data analysis of 56 currencies.
wj
