Ruble’s Rebound Engineered By Russia’s Central Bank

The recipe behind the Russian ruble’s rebound was based upon limiting selling and forcing buying. This is exactly how Russia has manufactured demand for its beleaguered currency.

The consequences of harsh economic sanctions against Russia are felt all over the globe. Hence, lies the importance exploring what happened so far and how the conflict might transform the global economy.

While Russia’s currency can still see sharp swings in a day, it has trimmed its steep losses and begun to stabilize. It is now trading at around 99 rubles to the dollar, about 17% weaker than it was before Russian troops invaded Ukraine on 24 February but stronger than its record low of 151 on 7 March.