The Fall and Rise of the Russian Ruble
Western sanctions ravaged the ruble after Putin’s invasion of Ukraine. How did the currency bounce back?
The U.S. dollar was valued this week at about 80 Russian rubles, roughly the same exchange rate in effect before Russia invaded Ukraine on Feb. 24. Western sanctions had initially ravaged the Russian currency—but it has bounced back.
Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi
Read More
Ruble to the Rescue?
Russia’s currency had a record-breaking April, but good news for the broader Russian economy will be harder to find.
What Lessons Does China Take From Putin’s War?
A month into the invasion, Beijing is still backing Russia.
America’s Sanctions on Russia Are Not a Slam Dunk
Why the West’s economic response is entirely unprecedented—and the effects are impossible to fully predict.
More from Foreign Policy
The Iran-Israel War Is Just Getting Started
As long as the two countries remain engaged in conflict, they will trade blows—no matter what their allies counsel.
New Zealand Becomes the Latest Country to Pivot to the U.S.
Beijing’s bullying tactics have pushed Wellington into Washington’s welcoming arms.
A Tale of Two Megalopolises
What new cities in Saudi Arabia and Egypt tell us about their autocrats.
The Strategic Unseriousness of Olaf Scholz
His latest trip confirms that Germany’s China policy is made in corporate boardrooms.
Sign up for World Brief
FP’s flagship evening newsletter guiding you through the most important world stories of the day, written by Alexandra Sharp. Delivered weekdays.
By submitting your email, you agree to the Privacy Policy and Terms of Use and to receive email correspondence from us. You may opt out at any time.
Join the Conversation
Commenting on this and other recent articles is just one benefit of a Foreign Policy subscription.
Already a subscriber? .
Subscribe Subscribe
View Comments
Join the Conversation
Join the conversation on this and other recent Foreign Policy articles when you subscribe now.
Subscribe Subscribe
Not your account?
View Comments
Join the Conversation
Please follow our comment guidelines, stay on topic, and be civil, courteous, and respectful of others’ beliefs.