Russia’s surprising economic headache: Strong ruble

After the first default in a century amid a bitter war with Ukraine, one could expect the Russian currency to suffer. But Russia has the opposite problem.

The Russian ruble has surged to a seven-year high against the US dollar – a stunning turnaround for a currency that was in free fall earlier this year after Russia invaded Ukraine. The ruble on Wednesday rallied 41% against the dollar this year, making it the greenback’s best performer against the greenback, according to a Dow Jones Market Data analysis of 56 currencies. Russia’s surprising economic headache: Strong ruble

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