Benzinga - The Russian Ruble paired with the U.S. Dollar closed 2% higher on Friday at $0.0135, after declining about 32% since June 29, 2022.
The currency became highly and unusually volatile since Feb. 23, 2022, the day before Russia invaded Ukraine, but almost 1 year into the conflict, the Ruble has settled back near to pre-war levels.
The Ruble plummeted over 51% between that date and March 7, 2022, when the currency plunged to the $0.0065 mark before surging over 200% to reach a June 29 high of almost $0.02 - a price not seen since May 2015.
The surging value of the currency came as a surprise to many, who believed the political and economic situation in the country could tank Russia's currency to unfathomable levels.
Investing $100 In The Russian Ruble
A trader lucky enough to have taken a $100 position at the post-Ukraine invasion lows could have cashed out a total of $301.54, for a total profit of $201.54 if they sold at the highs. If a trader were to have held $100 worth of the Russian Ruble from the day prior to the invasion, when it closed that session at $0.0122, and still held the position as of Friday's close, the investment would be worth $110.66 (a 10.34% gain).
What $100 USD Could Buy In Russia
As of Friday's closing price, $100 USD could be exchanged for about 7,400 Russian Rubles. In Moscow, on average, here's what that could buy you, according to Expatistan:
- 3 short (15-minute) visits to a doctor.
- 19 combo meals at a fast food restaurant.
- A 50-mile trip in a taxi.
- 137 liters (36 gallons) of gas.
- 39 packs of Marlboro cigarettes.
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