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Well, tomorrow we'll witness the economical suicide. Sberbank - 1$ = 110,49₽ Tinkoff - 1$ = 153,75₽ And the markets are not even opened. For the reference,
by TestSIM1 5y ago
Well, tomorrow we'll witness the economical suicide.
Sberbank - 1$ = 110,49₽
Tinkoff - 1$ = 153,75₽
And the markets are not even opened.
For the reference, before Putin started full-scale war against the Ukraine:
1$ = 78.66₽ (23rd Feb)
- grishka 5y agoIt's far from the first time rouble has plummeted. Just a reminder that 10 years ago, before this whole Crimea thing, 1$ was around 30₽. In the 90s and early 00s rouble was unstable enough that cellular carriers billed in dollars and many stores had prices in "у.е." that were also dollars just with a different name.
- notreallyserio 5y agoWhat do you mean when you say "Sberbank - 1$ = 110,49₽" and "Tinkoff - 1$ = 153,75₽"? Are these different exchange rates for different banks?
- Andrew_nenakhov 5y agoHe means that the local currency is set to depreciate by half in a span of a week. And the bottom might be far far lower.
- notreallyserio 5y agoSo these figures are from different times as well as different banks? If so then cool, that was the missing piece.
- TestSIM1 5y agodifferent banks? - Yes. different times - No.
- notreallyserio 5y agoHow extremely odd. Wonder why the values haven't converged? Do people inside the country not have access to this information? What's stopping someone from buying 150 rubles for a dollar and then buying $1.40ish for those same 150 rubles?
- TestSIM1 5y agoI should have perhaps mentioned in the original post: 1$ = 152,3₽ (buying 1 US dollar) 1$ = 85,7₽ (selling 1 US dollar). Just because you pay 152₽ to buy 1$ doesn't mean you can sell it at the same price. At least banks won't buy it. According to banki.ru the best price for selling US dollar now is 94,00₽. Hope that clarifies it.
- notreallyserio 5y agoI see, the friction is in doing the reverse transaction. I guess you could find a buyer outside the traditional markets to complete the arbitrage transactions but that's going to be risky. Thanks for the clarification.
- Andrew_nenakhov 5y agoIn times of such turmoil the spread between buy and sell price becomes so vast that it'll shield the exchangers from such schemes.
- TestSIM1 5y agoYes. You can purchase dollars in exchange of Rubles. Previous week it was aprox. 80 Rubles per U.S. Dollar. Now due to the White House's statement that there will be sanctions against the Russia's central bank (they shouldn't able to use the reserves to keep Ruble stable) it is predicted that Ruble will collapse tomorrow.
- notreallyserio 5y agoIt seems like too large a difference between banks, wouldn't this lead to arbitrage?
- svnt 5y agoI believe currently only one of these banks can enable you to get your money out of Russia — thus the difference.
- deleted 5y ago[deleted]