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Are these the same geniuses who "attacked" RUB? They "damaged" it so much it's up 25% over USD this year and the central bank has had to slash interest rates...
by jessaustin 4y ago
Are these the same geniuses who "attacked" RUB? They "damaged" it so much it's up 25% over USD this year and the central bank has had to slash interest rates... I'm sure the Chinese are very concerned.
https://www.nytimes.com/2022/05/26/business/russia-rates-ruble.html https://www.nytimes.com/2022/05/26/business/russia-rates-rub...
- sebzim4500 4y agoYeah but no one is allowed to sell it.
- jessaustin 4y ago...no one is allowed to sell it. Temporarily true in certain jurisdictions, but OTOH one may with RUB purchase oil, natural gas, palladium, nickel, copper, steel, aluminum, wheat, fertilizer, etc. So, those who need e.g. catalytic converters, especially if they live on the 70% of the planet where there are no limits on RUB whatsoever, will probably continue to use it.
- somenameforme 4y agoThe currency controls have been repeatedly loosened, though it's difficult to try to find what the latest rules are. Russia's now growing concerned that the Ruble is growing too strong. That can hurt exports and exporters, as it means [relatively] higher domestic costs + lower profits.