The Russian ruble has become the world's most profitable currency due to the U.S. dollar weakening, Bloomberg reported, citing economists.
The ruble has strengthened against the dollar by 38% in over-the-counter trading since the beginning of the year.
"Unlike many emerging-market currencies, the ruble is not facing pressure from capital outflow, caused by global investors’ retreat from riskier assets," economist at T-Investments Sofya Donets said.
A visible thaw in relations between Moscow and Washington also played a role in making the Russian currency more attractive to investors. The conditions supporting the ruble are likely to persist in the future.
According to the Russian Central Bank, the real effective ruble exchange rate rose by 19.2% in the January-March period.
