UK Business

Russia's rouble is now stronger than before the war – western sanctions are partly to blame

Written by Kirill Shakhnov, Lecturer in Economics, University of Surrey

In the days after Russia invaded Ukraine in February 2022 and the west imposed sanctions, the rouble collapsed. The number of roubles to one US dollar quickly fell from about 78 to 138 – a huge move in the world of forex (foreign exchange), and terrifying for those with their wealth in the Russian currency.

Since then, sanctions have...

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