Shafaqna English– According to Bloomberg, the Russian ruble has been the top-performing currency against the US dollar in Q2 2026, thanks to a sharp rise in oil revenues.
Figures from the outlet show that the ruble gained nearly 12% from the beginning of April to approximately 72.6 against the dollar, marking its strongest point since February 2023.
The report noted on Tuesday(19 May 2026) that for the second year in a row, the ruble has moved contrary to official and market expectations that had anticipated its decline, leading some analysts to suggest the currency is overvalued.
Bloomberg reports that the ruble’s appreciation has emerged as a defining feature of Russia’s current economic landscape, driven by sanction-related financial market distortions and a tight monetary policy aimed at offsetting the costs of the Ukraine war. A stronger ruble, while helping to curb inflation, is simultaneously reducing exporters’ profits and state budget income, the report noted.
Source: Rt