Bloomberg: ruble is the best world currency since the beginning of 2022

The Russian ruble has become the best world currency since the beginning of the year, ahead of the Brazilian real in the ranking. This was reported by Bloomberg on Thursday.

"The capital controls imposed by Russia have turned the ruble into the best global currency this year. Since the beginning of this period, the ruble has appreciated 11% against the dollar, which is higher than the 9% achieved by the Brazilian real. Thus, the ruble became the leader among 31 major currencies tracked by Bloomberg".

Bloomberg emphasizes that the strengthening of the Russian national currency was made possible thanks to a number of measures taken by the government: Russia introduced capital controls, obliged exporters to sell foreign currency and transferred payments for gas exports to unfriendly countries into rubles. At the same time, some experts cited by Bloomberg are not sure about the reliability of the ruble's strengthening and that its exchange value corresponds to the real one.

However, as the agency notes, the strengthening of the ruble against the backdrop of a special military operation is noteworthy, since a number of other countries that also tried to control the movement of capital failed to achieve a similar result.

"So, the Turkish lira and the Argentine peso are still not able to recover from the fall," Bloomberg states.

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Author`s name: Petr Ernilin