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Apr 5, 2022

How the ruble rebounded

Russia manipulated supply and demand for its currency to keep it stable. Plus, U.K. millionaires who want higher taxes … for themselves.

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Women walk past a board showing currency exchange rates of the US dollar and the euro against Russian ruble in Moscow on February 22, 2022. - Russian stock indexes fell sharply Tuesday morning, after Moscow recognised the independence of Ukraine's two separatist regions and President Vladimir Putin sent troops into the Western-backed country. The dollar-denominated RTS index was down 10.8 percent at 0713 GMT, and 32.5 percent since the start of the year. The ruble-based MOEX fell by 8.8 percent. The Russian currency also slid, with the ruble trading at more than 91 to the euro and 80.7 to the dollar.
Women walk past a board showing currency exchange rates of the US dollar and the euro against Russian ruble in Moscow on February 22, 2022. - Russian stock indexes fell sharply Tuesday morning, after Moscow recognised the independence of Ukraine's two separatist regions and President Vladimir Putin sent troops into the Western-backed country. The dollar-denominated RTS index was down 10.8 percent at 0713 GMT, and 32.5 percent since the start of the year. The ruble-based MOEX fell by 8.8 percent. The Russian currency also slid, with the ruble trading at more than 91 to the euro and 80.7 to the dollar.
Dimitar Dilkoff/AFP via Getty Images

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How the ruble rebounded