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Ruble becomes strongest-performing currency in 2025 — Bloomberg

As Bloomberg noted, the ruble’s rise has been influenced by reduced demand for foreign currency in Russia.

NEW YORK, December 24. /TASS/. Over the past 12 months, the Russian ruble has posted its strongest appreciation since 1994, outperforming major currencies against the US dollar in 2025, according to data cited by Bloomberg.

According to the agency, driven by its gains in 2025, the Russian ruble has entered the top five best-performing global assets, ranking behind platinum, silver, palladium, and gold. Since the beginning of the year, the ruble has strengthened by 45% and is currently trading at around 78 rubles per dollar.

As Bloomberg noted, the ruble’s rise has been influenced by reduced demand for foreign currency in Russia.

Ruble-denominated assets have become more attractive to Russian investors amid the current monetary policy stance of the Bank of Russia, which has also contributed to the currency’s appreciation.

As Bank of Russia Governor Elvira Nabiullina stated on December 19 at a press conference following a meeting of the regulator’s board of directors, demand for foreign currency is declining due to import substitution measures, support for domestic producers, and the effects of the current monetary policy.