Russland übernimmt den chinesischen Yuan zum Rubel als Referenzwechselkurs, nachdem US-Sanktionen eine weitere Abkehr vom Dollar erzwingen
https://www.businessinsider.com/dedollarization-russia-china-yuan-ruble-exchange-rate-benchmark-new-sanctions-2024-6
23 comments
Good. Watch Xi manipulate your currency along with theirs, Vlad.
When do they start teaching chinese in schools?
Step one, next Chine take over Russia
I see Putlers 3-day special operation to turn Russia into a vassal state for China is going well.
So Russia _forced_ to adopt?
I’m sure that will go over well just like that siberia gas pipeline to China that Russia was touting as Russian success (but the Chinese were then trying to force Russia into a bad deal since Russia has no friends and options).
how much does it cost to buy Outer Manchuria and it’s mineral wealth one belt-road choke hold at a time.
Isn’t the Yuan pegged to the US dollar?
This at best means nothing, at worst means that the ruble is in some sort of peg to the yuan, which basically gives China a massive amount of control over the Russian economy.
It is probably the first option.
Anyway the way free floating currencies work is that they all more or less instantly adjust so that all exchange rates are equivalent. For example 1USD=0.9GBP=110JPY=1000 Rubles=8 Yuan. If one currency deviated from their price by any real amount traders would use conversions from other currencies to take advantage of the discrepancy to get more of the currency they wanted, which also levels out the change to a new “normal” exchange rate. The reason everyone compares to the dollar isn’t some special property of the USD, its just the currency used most and trusted most so it is faster to go C1->USD->C2 than it is to go from C1->C2 most of the time. Russia is basically saying it’s ForEx market will go Ruble->Yuan then likely to USD->C2.
Russia has become a Chinese satellite state. Jesus Putin has fucked his country so hard.
And considering the yuan matches the dollar to an extent I don’t think this will help.
Meanwhile Chinese currency is pegged to USD.
And the Chinese economy is tanking.
China is pegging Russia in the butthole.
if you combine it with the news that the Saudis are going to stop to trade in petrodollars it makes sense. China is the largest client of Saidis oil.
That is fucking hilarious.
Since the Yuan is pegged to the US dollar, could this actually be a sneaky work around for Russia?
And castles made of sand
fall into the sea
eventually
Lol, this is probably the worst outcome, China is having real financial pressure, basically abandoning it’s belt and road initiative, Evergrande went bankrupt, the banks are literally stealing people’s money. The ruble is going to be hoovered up for nothing in return to balance China’s balance sheets. I feel quite bad for the Russian civilians that will suffer.
So is the rumored BRICS currency happening?
Next headline: China exports extra gravity to Russia, to be used in tall windows with loose fittings.
How does the Pooh cock feel in your Butthole Vlad
People laugh but Russia actually got plenty of time to adapt to sanctions and keep their war economy afloat. Sanctions applied slowly and incrementally is exactly how you make sure the country can survive the sanctions and keep doing what you wanted it to stop doing.
“I am the great Russia…”
One trash currency to another, yay.
Very cool how Vlad is putting his rotten country into a deeper pile of shit and when he finally dies someone will have to somehow get it out of there or keep pushing into deeper shit