Russian Ruble gains value as Trump assumes office
File photo shows a close-up view of Russian ruble banknotes. (AA Photo)
The Russian ruble surged on Donald Trump’s first day as U.S. President, coinciding with an over 1% decline in the U.S. Dollar Index to 107.73, marking its lowest point in nine days.
According to investing.com, the ruble appreciated by 1.22% against the U.S. dollar, bringing the USD/RUB exchange rate below 100 for the first time since Dec. 26, 2024. However, the Moscow Exchange (MOEX) dropped by 0.83%, closing at 2,905 points, while the dollar-based RTS Index declined by 0.82% to 897 points.
Analysts attribute the ruble’s strength to Trump’s commitment to initiating negotiations on the Ukraine conflict with Russian President Vladimir Putin, coupled with elevated oil prices, Russia’s main export commodity.
Russian Ruble starts 2025 strong
Despite beginning the year at its weakest level since March 2022, the ruble has rebounded, strengthening by approximately 10% to become the best-performing currency among emerging markets in 2025.
The currency’s surge is fueled by increased foreign exchange sales by the Russian government and robust oil prices, which have offset the impact of U.S. energy sanctions imposed on Jan. 10.
As one of the factors contributing to the ruble’s rise, Putin expressed optimism about cooperation with the Trump administration on Monday.
Putin reiterated his willingness to engage in talks to resolve the Ukraine conflict, emphasizing his hope for a resolution that ensures “lasting peace.”
On Nov. 27, the ruble had declined sharply, losing over 7% against multiple currencies in its steepest depreciation since the Ukraine war began in October 2022. The USD/RUB exchange rate reached 113.25, marking a 7.34% rise from its opening rate of 105.49.
