The Russian rouble strengthened against the dollar on Monday, momentarily surging to 62.71 per dollar, and soared to its best level versus the euro in over five years, helped by continued currency trading restrictions.
The rouble has been the best-performing currency in the world so far this year, despite artificial help from capital controls implemented by Russia in late February to protect its financial sector after sending tens of thousands of troops into Ukraine.
The scenario on the domestic currency market has remained unchanged for several weeks, with the rouble firming as foreign currency supply surpasses demand, according to Alfa Capital analyst Alexander Dzhioev.
Russia’s current account surplus more than tripled from January to April to $95.8 billion, according to central bank figures released on Monday. The increase was fueled by higher import receipts and a decrease in imports.