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I can make my own currency, and call it "the best performing currency of all time". This is just what the russia gov has been doing. 1) The gov has forced comp
by phplovesong 4y ago
I can make my own currency, and call it "the best performing currency of all time". This is just what the russia gov has been doing.
1) The gov has forced companies to exchange 80% of their external income to rouble.
2) The gov has used billions (from their own war chest) to prop the rouble.
3) Inside russia, you really can only use RUB as, there is a wide ban on sales of foreign currency. (The ban might be in the form of ridiculous exchange rates)
4) The black market has a completely different exchange rate than the banks do.
5) Global trad volume is down to near zero.
https://www.poundsterlinglive.com/data/currencies/usd-pairs/USDRUB-exchange-rate/ https://www.poundsterlinglive.com/data/currencies/usd-pairs/...
(Scroll down for trade volumes)
- sam_lowry_ 4y agoAlso, internal inflation is well into two-digit zone already, although there is some disagreement as to the exact number. And this inflation is being propped by the fact that many products are simply unavailable, e.g. car manufacturing collapsed.
- inawarminister 4y agoAre you talking about Russia or s/Europe(an Union)/the West here?