April was the best month for the ruble since 1993. The Russian currency is up 18 percent against the dollar so far this year. Those gains pushed Russian stocks up and rewarded investors who stuck it out or were brave enough to jump back in. They’re not big enough, though, to save the country’s faltering economy. And new data suggest many big investors are still skeptical.
Russia’s currency has been steadily rebounding this year, with the exchange rate falling from 70 rubles to the dollar at the end of January to fewer than 50 rubles to the dollar on Wednesday. The …read more
Source: Foreign Policy
