The rouble climbed by about 4 per cent against the dollar on Thursday after the Kremlin reintroduced capital controls for the first time since the aftermath of Russia’s invasion of Ukraine last year.
Vladimir Putin, Russia’s president, signed a decree late on Wednesday forcing 43 companies, including energy, metals and agriculture exporters, to sell some of their foreign currency revenue on the domestic market to prop up the slumping rouble.
Despite Thursday’s bounce, the currency remains 23 per cent lower against the dollar this year and has fallen by about a quarter since the war’s outset after western sanctions battered the country’s economy.
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