The Russian ruble is as crucial to Vladimir Putin's regime as his war on Ukraine is, says Princeton scholar
Putin's fixation on the ruble's strength stems from earlier Russian beliefs that the currency's standing signaled the country's geopolitical reputation, according to Pravilova.
But with today's Ukraine conflict, the Kremlin can't hide how the ruble is trading against other currencies and has pointed out the benefits of a weaker exchange rate, such as the boost to oil exports and government revenue, Pravilova said.
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