Interest rates around 10% are considered pretty high. Having high interest rates in combination with a heavily regulated and manipulated currency market means that:
1.The national currency will have high value. Countries with higher interest rates have higher valued national currencies.
2.The national currency isn't fully convertible into foreign currencies, which means that the current market value isn't the actual value of that currency. Nobody knows the actual value of the Russian ruble.
I really wish the European Central bank to slowly raise the interest rates to levels around 10%, this would definitely make the euro more expensive, which might make the gas and oil import cheaper.
This is one of the issues that is fueling inflation in the EU Zone. The Euro has lost more than 15% of its value against the USD during the last 12 months. And I don't believe that the European Central Bank has the resources available to strengthen the Euro. After Brexit, the EU is too much dependent on Germany, and even that country is in bad shape right now due to high prices for energy. In the long run, I foresee the Euro getting devalued even more against the USD. And it is not just the Euro. Even JPY and GBP have gone down against the USD recently.