The ruble has been on fire, gaining over 20% against the dollar and 35% against the euro in the last three months.
The currency is among the best performing this year, after being the worst performer of 2014.
The ruble collapsed last year as the Russian economy started showing serious cracks. Russia was hit hard by the double whammy of falling oil prices and the Western sanctions imposed on Moscow over its role in the crisis in Ukraine.
The numbers are telling: In January 2014, $1 would get you 33 Russian rubles. At the low point in December, $1 would get you about 80 rubles. Today, a dollar is worth about 52 rubles.
It's been a rapid turnaround, although there's still a long way to go.
The central bank raised interest rates six times in 2014, trying to defend the ruble. But the currency continued to slide, hitting record lows.
The Central Bank did everything it could to halt the slide, spending more than $110 billion in foreign currency supplies in 2014 to try to prop up the currency. The plunge sparked backlash against the central bank with some even accusing it of sabotage.
Related: Russia empties the vault to prop up the ruble
It's looking more rosy for the ruble now. Although the Russian economy is expected to contract by between 3.5% and 5% in 2015, investors are getting more confident about the ruble. The main driver is the stabilizing political situation.
"Given that the geopolitical tensions between Russia and Ukraine are not becoming any worse, it seems that traders are finding the risk to reward ratio much more attractive," Naeem Aslam, analyst with AvaTrade said.
The ruble gained another 3% on Friday.
Societe General's Sebastien Galy said the rally could continue for a while: "More fearful investors are [getting] sucked back in, given that the currency is very cheap versus fair value under these special circumstances."
http://money.cnn.com/2015/04/10/investing/russia-ruble-2015-surge/index.html
PATIENTLY WAITING FOR NAIRA TO HIT BACK.

Putin the chess master. Obama is good at Ludo

kosovo:
Putin the chess master. Obama is good at Ludo

Putin is very clever and Russia is filled with strong people. Not only do they have oil, but have good proximity to those who need it. We should never underestimate their strength. The values placed on such things as currency are not as important as the fiber of the nation.

Obama, in his pride, comes across placing himself above Putin. I think he should be seen as an equal, and see himself as such. That would make diplomacy easier.

Our naira would rise again...
Sai Buhari

Keneking:
Our naira would rise again...
Sai Buhari

Amen, but buhari is not OPEC bro.

russians are strong people despite the assault on them by the europe and america...they have stood strong....and they are still the eight highest economy in the world...kudos to them

Keneking:
Our naira would rise again...
Sai Buhari

It already rising

$1= N207

tobtap:
russians are strong people despite the assault on them by the europe and america...they have stood strong....and they are still the eight highest economy in the world...kudos to them

Not just RUSSIANS alone but NIGERIANS too.

Know more about your COUNTRY bro