April was the best month for the ruble since 1993. The Russian currency is up 18 percent against the dollar so far this year. Those gains pushed Russian stocks up and rewarded investors who stuck it out or were brave enough to jump back in. They’re not big enough, though, to save the country’s faltering economy. And new data suggest many big investors are still skeptical.
Foreign Policy: Ruble to the rescue?
People prepare a sled in the form of the Russian ruble during the Winter Sledge festival in St. Petersburg, on Feb. 1, 2015.
