Ruble becomes best-performing currency in March; soars to 83 to the dollar

The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 60 per cent against the US dollar from its lows in the first week of March.
 

The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7. Thanks to the recent rally, the ruble is only about 10 per cent lower than what it was before the Russian invasion of Ukraine on February 24. The ruble was trading at around 76 before the invasion, according to the data from Bloomberg. 

Analysts