In recent days there were no major movements among the leading currencies in foreign currency markets, but Russian laundry is still surprising.
Although the country is in war and is subject to western sanctions, and oil prices are falling, laundry is the world’s best currency this year, according to Bank of America. For example, the laundry increased by almost 50 percent in relation to the dollar, but the truth is that in the previous two years it has lost significantly. There are several reasons to strengthen laundry.
In the fight against inflation, the domestic central bank continues to implement a restrictive monetary policy with an interest rate above 20 percent. Russian imports were reduced, which means that the demand for foreign currencies is smaller, seebiz.
The important reason for the growth of Russian currency is that Russian exporters, mostly from the oil industry, are forced to bring a large part of their foreign earnings back to the homeland and replace them for laundry due to the requirements of the Russian government. Despite everything, experts say the further growth of laundry is unlikely.
