My understanding is that companies based in Russia now are required to convert their foreign reserves into rubles at a larger rate thanks to a rule change. So f

My understanding is that companies based in Russia now are required to convert their foreign reserves into rubles at a larger rate thanks to a rule change. So from a straightforward perspective you have more companies buying up rubles through... I guess USD -> RUB our EUR -> RUB? So from a basic perspective there's just more of that going on in one direction, less happening in the other direction, so in the end the value goes up. Though it might be pretty theoretical! If you were given a bunch of rubles today, as a Russian national, how easily would you be able to actually convert those to dollars? That being said, tight currency controls at borders for a large economy does let you control the value of your currency like this, and the downsides of relatively heavy currency controls feel really theoretical if you are not trying to hide a bunch of money (from an economic perspective at least).