Is the Ruble exchange rate a reliable indicator of economic stability in Russia?

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The Politicus
May 16, 2022 09:56 PM 0 Answers
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Back in February 2022, it seemed like the Ruble would rapidly collapse. However, nowadays, the USD/RUB exchange rate looks better than at any time in the past year:

https://www.axios.com/2022/02/28/ruble-russia-currency-sanctions-asia-markets-putin

You could argue that this is a "fake" exchange rate, but it seems like Russia keeps increasing the limit on foreign currency exchange, so citizens are indeed able to convert their rubles for dollars if they wish. Does this signify that Russia's economy is doing well despite the war — and, by proxy, that Putin is doing much better than previously expected?

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