Photo by: Sergey Konkov / TASS
The Russian economy has so far been fairly resilient to the crisis, thanks in particular to the policy of the Central Bank. Certainly, the crises of the past years have not passed without a trace for our economy — many companies have closed down. I would like to believe that businesses that have survived, despite fluctuations in the ruble, continue to strive for sustainability, rather than focusing solely on profit.
The attitude to the current strengthening of the rouble depends on the angle, on whose eyes one looks at it. People have effectively had their foreign currency accounts frozen until March 2023. But citizens who need currency can now buy it at a more attractive rate. And businesses, of course, find it more profitable to have the exchange rate return to its previous values.
Cover photo: Professor25 / iStock
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