The Russian ruble started the new year with a bang. The dynamic start allowed the ruble to become one of the top three global currencies. The currency movement in 2017 show that the ruble can easily rival any of the majors.
Along with the ruble, the Australian dollar and the Colombian peso are also showing upbeat results. Of course, if one currency goes up, another one goes down. Thus, the Turkish lira, the Mexican peso and the British pound are among outsiders. Keith Jax, an analyst at Societe Generale, stated that these currencies have depreciated due to an unstable political situation in their countries. Erdogan’s authoritarian politics, Brexit and Donald Trump's victory are the main reasons for the sharp fall of the lira, the pound and the peso. On the other hand, Trump's presidency and increase in oil prices are beneficial for the Russian ruble. If the new US president begins to gradually lift sanctions against Russia, as he promised, the ruble will be gaining ground more rapidly.
Earlier, several independent analysts have recognized the ruble as the most attractive for investment currency in the world. There is a strong case: the ruble gained 22 percent in 2016, moreover, Governor of the Central Bank of Russia Elvira Nabiullina stated that the ruble is no longer sensitive to change in oil prices.
