All while the Russian Ruble has recovered well - maybe even stronger than the pre-Ukraine invasion. China is bolstering them.
China will help them out. Yeah, china doesn’t do anything for free. Watch china take over Russia in the next yr as china is hurting for fuel and food.
Right out of the Art of War. Help your enemy destroy itself.
—”All while the Russian Ruble has recovered well>
https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble
Those are the tangible external factors driving the ruble’s recovery. The internal factors are somewhat less corporeal. On Feb. 28, the Central Bank of Russia increased interest rates to 20%. Any Russian who might have been tempted to sell their rubles and buy dollars or euros now has a big incentive to save that money instead. The fewer rubles that go up for sale, the less downward pressure there is on the currency.