In the USA, the ruble was named the most dynamic global currency

The Russian ruble is showing record growth, having strengthened against the US dollar stronger than all world currencies. This was reported on Tuesday, April 15, by the American agency Bloomberg.

"The Russian ruble has grown and become the most dynamic global currency, demonstrating the strongest growth against the dollar this year, outstripping even gold," the publication says.

According to the publication, since the beginning of this year, the ruble has strengthened by 38% against the dollar on the over-the-counter market, while gold has become more expensive by 23% over the same period.

As the authors of the article pointed out, this dynamic is due to the improvement of relations between Moscow and Washington.

"Since the beginning of the year, the ruble has benefited from three changes. First, the warming of relations between [Russian President Vladimir] Putin Putin and [American leader Donald] The Trump administration has increased confidence in Russian markets and reduced demand for hard currency assets," said Alex Isakov, an economist at the publication on Russia.

The second reason, he said, is tight monetary policy, which reduces corporate and consumer demand for imports, increasing the net supply of hard currency.

And thirdly, as Isakov pointed out, the ruble was positively influenced by the activities of the National Welfare Fund.

Spring growth: why the ruble soared against the yuan

The Russian currency has strengthened by 20% in three months and continues to grow

On April 8, the Central Bank of Russia reported that the ruble strengthened in March due to a good trade balance and demand for ruble assets. At the same time, it is noted that due to the geopolitical situation and signals of maintaining tight monetary policy, the Moscow Exchange index showed negative dynamics in March.