NEW YORK, May 19. /TASS/. The ruble has strengthened against the dollar by around 12% since the beginning of April, demonstrating the best result in terms of this indicator among all currencies globally, Bloomberg reported.
The ruble’s exchange rate against the dollar has fallen to its lowest since February 2023, according to the report. The agency cited high energy prices amid the US-Israeli war against Iran as the reason for this development.
The ruble has been strengthening for the second consecutive year, defying economists’ forecasts. Analysts interviewed by the agency believe this may indicate an overvalued currency. In particular, Iskander Lutsko, a senior portfolio manager at Istar Capital, called the current macroeconomic conditions "ideal for further strengthening" of the ruble.
