4 ms·

What definition of strong are you using? Ruble (only one l) has historically been around 85:1 and now its ~60:1. (Rubles:Euros, i.e. 85 Rubles for 1 Euro) http

What definition of strong are you using? Ruble (only one l) has historically been around 85:1 and now its ~60:1. (Rubles:Euros, i.e. 85 Rubles for 1 Euro) https://www.xe.com/currencycharts/?from=EUR&to=RUB https://www.xe.com/currencycharts/?from=EUR&to=RUB

littlestymaar 4y ago
> Ruble (only one l) Indeed, thanks. Not a native speaker here, and I got everything mixed up with the early-war pun “the Ruble is going to rubble” > What definition of strong are you using? Ruble […] has historically been around 85:1 and now its ~60:1. (Rubles:Euros, i.e. 85 Rubles for 1 Euro) Yes, that means Ruble's purchasing power increased by 40% (one Ruble could buy you ~1.2 euro cent, and now it buys you ~1.7).
s1artibartfast 4y ago
That means it is about 40% stronger than it historically has been. IF you had your money in Rubles last year, can buy 40% more of a product than if you had your money in Euros.
- lostmsu 4y ago
  What product can you buy with rubles?
  - s1artibartfast 4y ago
    Wheat and gas, or better yet, euros to get anything elae
    - littlestymaar 4y ago
      > anything* else *not under sanctions.
      - s1artibartfast 4y ago
        Sanctions don't stop a forex investor from trading the rubles they own for euros and buying whatever they want
        lostmsu 4y ago
        Can you actually trade ruble? For some reason, for example, Sep-2022 futures chart for ruble has a gap between Jun 15 and today. And forex.com claims USD/RUB and EUR/RUB are unavailable for trading.
        s1artibartfast 4y ago
        Yes, you can still trade it. Foreign currency exchange is decentralized. Us and EU exchanges have stopped trading and ruble, but you better believe in the n in Chinese exchanges still trade it
        lostmsu 4y ago
        I think you are theorising too much based on a bit of Russian propaganda. I looked at a few exchanges and the spread on rubble is so high you could not buy more than a few dollars at the rated prices.
        s1artibartfast 4y ago
        Look at the spread at the Bank of China ( China's largest bank and foreign exchange). They are buying rubles 10.75 RMB and selling at 12.5 RMB. They are selling USD add 674. This gives 63 rubles to the dollar. The fact is that major economic powers in the world have not signed onto sanctions and have access to both Russian and Western currency. It is true that many parts of the West have lower need for rubles because of sanction, but if you I think that the entire Globe has frozen trade with Russia and trade in Russian currency, you are the one that has fallen for propaganda. They just no longer can use western exchanges to convert currency. See the link below. https://www.google.com/amp/s/markets.businessinsider.com/news/currencies/russian-demand-china-currency-ruble-yuan-trading-volume-forex-sanctions-2022-7%3famp https://www.google.com/amp/s/markets.businessinsider.com/new...
hervature 4y ago
That is the definition of strong. You need fewer rubles now for 1 euro. Just like you need fewer USD for 1 euro now.
deleted 4y ago
[deleted]

littlestymaar 4y ago

> Ruble (only one l) Indeed, thanks. Not a native speaker here, and I got everything mixed up with the early-war pun “the Ruble is going to rubble” > What definition of strong are you using? Ruble […] has historically been around 85:1 and now its ~60:1. (Rubles:Euros, i.e. 85 Rubles for 1 Euro) Yes, that means Ruble's purchasing power increased by 40% (one Ruble could buy you ~1.2 euro cent, and now it buys you ~1.7).

s1artibartfast 4y ago

That means it is about 40% stronger than it historically has been. IF you had your money in Rubles last year, can buy 40% more of a product than if you had your money in Euros.

lostmsu 4y ago
What product can you buy with rubles?
- s1artibartfast 4y ago
  Wheat and gas, or better yet, euros to get anything elae
  - littlestymaar 4y ago
    > anything* else *not under sanctions.
    - s1artibartfast 4y ago
      Sanctions don't stop a forex investor from trading the rubles they own for euros and buying whatever they want
      - lostmsu 4y ago
        Can you actually trade ruble? For some reason, for example, Sep-2022 futures chart for ruble has a gap between Jun 15 and today. And forex.com claims USD/RUB and EUR/RUB are unavailable for trading.
        s1artibartfast 4y ago
        Yes, you can still trade it. Foreign currency exchange is decentralized. Us and EU exchanges have stopped trading and ruble, but you better believe in the n in Chinese exchanges still trade it
        lostmsu 4y ago
        I think you are theorising too much based on a bit of Russian propaganda. I looked at a few exchanges and the spread on rubble is so high you could not buy more than a few dollars at the rated prices.
        s1artibartfast 4y ago
        Look at the spread at the Bank of China ( China's largest bank and foreign exchange). They are buying rubles 10.75 RMB and selling at 12.5 RMB. They are selling USD add 674. This gives 63 rubles to the dollar. The fact is that major economic powers in the world have not signed onto sanctions and have access to both Russian and Western currency. It is true that many parts of the West have lower need for rubles because of sanction, but if you I think that the entire Globe has frozen trade with Russia and trade in Russian currency, you are the one that has fallen for propaganda. They just no longer can use western exchanges to convert currency. See the link below. https://www.google.com/amp/s/markets.businessinsider.com/news/currencies/russian-demand-china-currency-ruble-yuan-trading-volume-forex-sanctions-2022-7%3famp https://www.google.com/amp/s/markets.businessinsider.com/new...

hervature 4y ago

That is the definition of strong. You need fewer rubles now for 1 euro. Just like you need fewer USD for 1 euro now.

deleted 4y ago

[deleted]