Economy05.07.2022 - 09:43

American economists called the strengthening of the ruble amazing despite the sanctions

The ruble is showing tremendous growth and is among the world's best currencies in 2022, despite the numerous anti-Russian sanctions, economists say.

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Economists interviewed by CBS television channel said that in the usual situation, the country, which faces US and European sanctions, loses investors and suffers from capital outflows. As a result, this leads to the fall of the national currency.

However, Russia, as the experts stressed, has taken incredibly vigorous steps to prevent the withdrawal of funds abroad. Combined with a sharp rise in the cost of fuel, this has increased demand for the ruble and strengthened it.

US economists called this strengthening of the Russian currency amazing, despite the restrictions imposed on Russia. The ruble made the list of the world's best currencies in 2022, CBS noted.

"This is an unconventional situation," added Harvard professor Jeffrey Frankel.

The stability of the national currency means that Russia is protected from Western sanctions, according to analysts from the United States.

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