The Russian ruble has eclipsed 31 major currencies in growth since the start of 2022, becoming the globe’s best-performing currency, Bloomberg reported on Wednesday.
According to the publication, the ruble has strengthened against the US dollar by more than 11% since the beginning of the year. On the international currency market, the ruble exchange rate has shown even greater growth of about 12% so far.
During trading on the Moscow Exchange on May 12, the exchange rate dropped to 65.07 rubles against the US dollar and 68 rubles against the euro – its strongest against the latter since January 2020.
The Russian currency overtook the Brazilian real in terms of dynamics, which also showed significant growth of almost 9%. Third position in the best-performing currency ranking is occupied by the Mexican peso with a growth of 1% against the greenback.