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>Ruble is up from where it was just before the invasion. The prices in Russia reflect about 1.5-2x ruble fall against dollar since the invasion. The official r
by trhway 4y ago
>Ruble is up from where it was just before the invasion.
The prices in Russia reflect about 1.5-2x ruble fall against dollar since the invasion. The official ruble/dollar ratio is maintained by draconian measures/restrictions against exporters and population (plus significant depression of economy which was consuming a lot of imports, like the car market falling 6 times because most of the foreign car makers/traders are gone, similar situation in IT for example, ie. Russian economy collapsed to becoming only natural gas and oil pump). Very similar to the situation back in USSR when dollar was only 0.63 of ruble, yet it wasn't possible to buy any dollars at that price.
Wrt. original post - it was obvious even back in February that the faster Ukraine wins the less hit Europe will take. Europe has been dragging its feet on military help for Ukraine and as a result dragging itself deeper an deeper into an economical crisis. Leaders of France, Germany, Italy still seem to hope that Russia will take a piece of Ukraine, and after that the things will be back to the good old times. This naïve thinking has already obviously failed, yet they are still clinging to it.
- harambae 4y agoThere's usually a black market rate in that case. And.. it appears there is here too [0], but at least in May it wasn't as wildly far off as typical when the government starts fixing the exchange rate. Only 15-20% difference. [0] https://www.bloomberg.com/news/articles/2022-05-17/in-ussr-flashback-russians-are-hunting-for-black-market-dollars https://www.bloomberg.com/news/articles/2022-05-17/in-ussr-f...