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Russian Ruble touches a 7-year high Against the US dollar

23-Jun-2022 By: Shikha Jha
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Russian Ruble touches a 7-year high Against the US dollar

The ruble, a fiat currency issued by Russia, has recently been noted as the currency with the highest performance globally. The Russian ruble reached its highest level since 2015 on Monday. Charles Lichfield, the deputy director of the Atlantic Council's Geoeconomics Center, wrote a column titled "Don't ignore the exchange rate: How a strong ruble can shield Russia," despite the fact that many people have rejected the ruble's exchange rate. 

The Russian ruble reached its highest level since 2015 at 55.47 per dollar. 

The "Russian economy is sinking, inflation is high and the GDP of the Russian economy is crumbling," YouTuber Jake Broe informed his 146,000 followers. However, the American economy appears to be headed for a downturn, inflation is at its highest level in 40 years, unemployment numbers have increased while productivity has decreased, and the U.S. economy's GDP declined significantly in Q1 2022.

It is questionable if American politicians and the Federal Reserve are involved in manipulation and the distribution of false information. According to a report, the boycott of Russian oil is unsuccessful, and Putin is "getting the final laugh" because he is now supplying more oil at a higher price.

Charles Lichfield wrote an article two weeks ago saying that people shouldn't neglect the ruble exchange rate. It's time to reevaluate this position. "The Russian financial system may have survived the initial shock, but a decrease in gross domestic product (GDP) and severe input shortages, they thought, would eventually drive Moscow to de-escalate as the war entered a grinding phase."


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