Russian currency Rouble rebounds, no longer 'in rubble'

 DAYS after the russian invasion of ukraine the ruble was at an all-time low it shared 45 percent of its value against the dollar the collapse was an indication of russia's economic isolation the u.s president even went ahead to dismiss the russian currency calling it rubble but since then the currency has bounced back it is now trading just at its pre-war levels closing at 79.7 to the dollar in moscow but how exactly did this happend this is because despite the wide-ranging sanctions russia is still exporting gas and oil many are calling it the country's economic resilienc the efforts to shore up the ruble are in line with one of putin's key beliefs at the center of his policy is the need for stable currency one that can sustain the humiliation of these steep devaluations but others are calling the sharp rebound a sign of economic weakness since the 24th of february the russian central bank has raised its key interest rate from 9.5 percent to 20 it has slapped capital controls on much of the economy and it has forced the russian exporters to convert their foreign currency revenues into rubles the ruble remains at the mercy of any western embargo on russian oil and gas the punitive 20 policy rate will further hurt the economy high interest rates will deter investment and trade restrictions will send imported prices higher this means russians may find they have little use for a stable ruble in their fast closing economy.