The ruble exchange rate has surged over 40% this year, marking its strongest annual performance in 30 years.

The Russian ruble has soared more than 40% so far this year, leading the major currencies globally, and is on track to achieve its strongest annual performance since 1994. Data shows that the Russian ruble has risen by 45.5% against the US dollar since the beginning of the year, with the current exchange rate close to 1 US dollar to 78 rubles, approaching the levels before the escalation of the conflict in Ukraine in 2022.