The Russian ruble in the second quarter of 2026 became the leader among currencies that rose against the US dollar, Bloomberg reported.
Thus, since the beginning of April, the ruble against the dollar has risen by about 12% and reached 72.6 rubles per dollar. Thus, the ruble returned to its levels in early 2023.
The agency links the current strengthening of the ruble to an increase in foreign exchange earnings from oil sales against the backdrop of the war in the Middle East and the fuel crisis.
As Bloomberg noted, for the second year in a row, the ruble deviated from official market expectations, which expect the currency to depreciate. For this reason, some analysts believe that the ruble is overvalued.
The agency wrote that a strong ruble increasingly looks like a part of the modern Russian economy, and this is a result of the imbalance in the financial market due to sanctions and Russia’s strict monetary policy, which should offset the costs of the war with Ukraine.
“If the Russian economy eventually emerges from martial law, the ruble will also return to more normal levels. Conditions are now ideal for further strengthening.” [валюты]said Iskander Lutsko, representative of investment banking firm Istar Capital.
Russian economy to a large extent wave For export, so a very strong national currency can become a problem for them. The ruble is very strong Slows down Economic growth: State budget revenues from exports decline, and local goods become less competitive compared to cheap imports.