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Ruble Edges Closer to Clawing Back All Its Post-Invasion Decline

  • Dollar-ruble pair now only around around 6% from pre-war mark
  • Central bank has imposed capital controls to stem outflows
Bloomberg business news
G-7 Balks at Putin's Demand for Gas Payments in Rubles

The ruble is staging a comeback that could soon see it making up all of the losses it suffered in the weeks after Russia invaded of Ukraine, although it has some way to go yet. 

The currency has strengthened in 13 of the past 14 trading sessions in Moscow, paring most of the 33% decline that it incurred in onshore trading after President Vladimir Putin sent Russian troops to invade Ukraine. The ruble was up again on Tuesday, strengthening more than 4% on the day to around 86 per U.S. dollar, edging close to its pre-war level.