The ruble has appreciated 38% against the US dollar, the most of any currency.

The currency was introduced in the 1970s and is pegged to the US dollar that ensures its stability. Its strength is largely attributed to the islands’ growing financial services industry. Follow ...

Hawkish monetary policy is almost always a boon for currency strength and could remain a long-standing tailwind for the ruble. Capital Economics suspects that rates will have to stay elevated until at ...