BRICS: Russian Currency Outperforms the US Dollar Despite Sanctions
The Russian ruble is outperforming the US dollar in November this month despite facing economic sanctions from the White House. The BRICS nation’s local currency, the Russian ruble, surged by a massive 12% in two weeks against the US dollar. While the US dollar performed better against other BRICS nations’ currencies, it failed to contain the Russian ruble in November. Also Read: BRICS : 155 Countries Sign Belt & Road Initiative With China For Trade The ruble had reached a low of 100.50 last month as the US dollar surged against all currencies, commodities, and gold. However, the US dollar weakened in November as the Fed’s rate cut remain unclear. The dollar also dipped after the jobs report came out showing unemployment rising from its previous monthly high. Source: Yahoo Finance So how is BRICS country Russia managing to keep its local currency, the Ruble , on top of the US dollar? In this article, we will highlight what made the Ruble outperform th...