The Russian ruble strengthened past the 87 per USD mark, close to the highest in seven months, benefiting from bets that US sanctions on Russia could be lifted. Reports indicated that the US government is considering lifting sanctions on Russia amid its foreign policy pivot with Donald Trump’s new presidential administration, backing his earlier statement that the US may reinstate economic ties with Moscow. The developments follow bullish support for the currency as Washington’s support for a ceasefire deal with favorable terms for the Kremlin raised bets that the war could end soon. Consequently, markets piled onto Russian assets on hopes that the country’s reintroduction to foreign investment and trade will support foreign exchange inflows. In the meantime, the CBR held its rate unchanged at the record-high 21% in its February meeting, but stated that it may consider a rate hike next week.
The USDRUB decreased 2.0318 or 2.38% to 83.4481 on Monday March 17 from 85.4799 in the previous trading session. Historically, the USDRUB reached an all time high of 150 in March of 2022. Russian Ruble - data, forecasts, historical chart - was last updated on March 17 of 2025.
The USDRUB decreased 2.0318 or 2.38% to 83.4481 on Monday March 17 from 85.4799 in the previous trading session. The Russian Ruble is expected to trade at 86.06 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 87.78 in 12 months time.