Ruble’s Rise: A Top Performer Amidst US Dollar’s Trade War Decline
The ruble’s recent performance as the top-performing currency is a complex issue, defying simple explanations. While it’s true that the ruble has experienced a significant percentage increase, this doesn’t necessarily reflect a robust Russian economy. In fact, the ruble’s value remains relatively low compared to historical highs and other major currencies. The significant increase is more accurately interpreted as a percentage-based gain from a previously depressed state; a smaller numerical increase from a higher starting point would not register as significantly. This gain isn’t necessarily indicative of economic strength within Russia itself.
The current situation highlights the importance of considering the baseline.… Continue reading
Matt Underwood