A higher FX is usually neither here nor there and whether it's desirable depends on the makeup of exports vs imports. That's why countries often have a fixed pe

A higher FX is usually neither here nor there and whether it's desirable depends on the makeup of exports vs imports. That's why countries often have a fixed peg instead of a "just make it go up" policy. Russia is the definite loser out of this, and indeed everyone is, the decision to invade was a catastrophe for everyone on multiple levels.