(Reuters) – The Russian rouble climbed to a new high of almost five years against the euro on Monday, surpassing 64 dollars per dollar. This was supported by currency trading restrictions.

The world’s most successful currency, the rouble, is performing well this year. However this may be due to artificial support by capital controls Russia implemented in February to protect its financial sector after it sent tens and thousands of troops to Ukraine.

The rouble, at 0744 GMT was 0.9% more expensive than the dollar at USD63.96. It hovered near the highest mark it has seen since February 2020 (62.6250), which it reached on Friday.

The rouble was up 1% against the euro to 66.39. It is still at its highest level since June 2017, when it reached 64.9425.

The West and Moscow are facing geopolitical tensions and concerns about a new package of sanctions to sanction Russia for its “special military operation” in Ukraine. However, their effects are mitigated by the mandatory conversion of foreign currencies by export-oriented companies as well as other restrictions.

Promsvyazbank analyst said that although the current rouble rate may not be as strong, they could slowly fall to 62.”

Russian stock indexes rose.

At 1,150.9 points, the dollar-denominated RTS was up 1.7%. MOEX Russian, a rouble-based index, rose 1.6% to 2,343.9 point.