The Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has reported
The Russian ruble has become the world’s best-performing currency against the US dollar in the second quarter of 2026, boosted by a surge in oil revenues, Bloomberg has reported.
Data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023.
For a second straight year, the currency has diverged from official and market forecasts that predicted depreciation, prompting some analysts to argue the ruble is overvalued, the report said on Tuesday.
The ruble’s strength has become a defining feature of Russia’s current economy, driven by sanctions-related imbalances in financial markets and tight monetary policy aimed at offsetting the costs of the Ukraine conflict, according to Bloomberg. While a stronger ruble helps curb inflationary pressures, it is also weighing on exporters’ earnings and state budget revenues, the report added.
Iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if Russia’s economy shifted away from a model driven by military needs, though he said conditions currently “are ideal for further strengthening.”
Russian Economy Minister Maksim Reshetnikov said last month the ruble could remain stronger “than many would like” in the coming years under the current economic model, noting that exchange rates previously favored by exporters had largely reflected persistent capital outflows.
“Now it is clear those outflows no longer exist, and net foreign assets are accumulating within our financial system,” Reshetnikov said at the time.
Demand for foreign currency has remained weak amid high domestic interest rates and subdued imports, nearly 60% of which are now settled in rubles.
At the same time, foreign-currency inflows have rebounded on rising energy prices and a partial easing of US sanctions on Russian oil. Washington introduced a waiver earlier this year in a bid to ease supply shortages and limit price spikes triggered by disruptions to shipping through the Strait of Hormuz during the US-Israeli campaign against Iran.
Net foreign-currency sales by Russia’s largest exporters tripled to $7.3 billion in April, central bank data showed, after the average price of Russia’s Urals crude climbed sharply. The Bank of Russia said higher oil prices had boosted hard-currency revenues this month.
First Deputy Prime Minister Denis Manturov said earlier that the ruble’s appreciation is putting pressure on non-commodity, non-energy exports. Sberbank CEO Herman Gref has echoed that view, calling such a level the “equilibrium” rate for the Russian currency.
15 thoughts on “Ruble top performer against US dollar – Bloomberg”
Think about it: iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if. That speaks volumes.
The fact that data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023 really puts things into perspective.
So the bottom line is the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. Wonder how this will land.
In other words the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. Curious to see how this develops.
Considering the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has, it raises some real questions about what happens next.
Considering iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if, it raises some real questions about what happens next.
Think about it: the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. That speaks volumes.
When you look at iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if, the implications are hard to ignore.
The detail about the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has is something people should sit with.
Basically iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if. What matters is whether anything changes because of it.
Basically data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023. What matters is whether anything changes because of it.
When you look at data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023, the implications are hard to ignore.
Reading that iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if — hard to argue with the logic there.
Think about it: iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if. That speaks volumes.
The fact that data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023 really puts things into perspective.
So the bottom line is the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. Wonder how this will land.
In other words the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. Curious to see how this develops.
Considering the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has, it raises some real questions about what happens next.
Considering iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if, it raises some real questions about what happens next.
Think about it: the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has. That speaks volumes.
7.3 billion is hard to ignore, no matter which side you are on.
When you look at iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if, the implications are hard to ignore.
The detail about the Russian currency has increased 12% against the greenback since April despite repeated predictions of depreciation, the outlet has is something people should sit with.
Basically iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if. What matters is whether anything changes because of it.
Basically data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023. What matters is whether anything changes because of it.
When you look at data compiled by the outlet showed the ruble had climbed about 12% since the start of April to around 72.6 per dollar, its strongest level since February 2023, the implications are hard to ignore.
Reading that iskander Lutsko, a Dubai-based senior portfolio manager at Istar Capital, told Bloomberg the ruble would likely return to more normal levels if — hard to argue with the logic there.
7.3 billion. The real figures are likely much higher.