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Ruble named world’s best-performing currency

Bloomberg says the Russian currency topped 31 major peers in growth this year

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 63 rubles against the US dollar – its strongest since February 2020, and 65 rubles against the euro – the strongest in nearly five years.

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….. Read More RT

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