Russian ruble has strengthened a lot compared to euro this year ,but as of today it has lost more than half of the value it gained from the beginning of the year
Russian ruble has strengthened a lot compared to euro this year ,but as of today it has lost more than half of the value it gained from the beginning of the year
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source:[https://www.xe.com/currencycharts/?from=RUB&to=EUR#](https://www.xe.com/currencycharts/?from=RUB&to=EUR#)
to make the comparison simpler,lets take the value of 100 rubles
* January 1 2022: 100 rubles=1.2 euros
* June 30 2022: 100 rubles= **1.82 euros**(highest point) ,**51 % higher than on January 1st**
* December 19 2022:100 rubles=**1.43 euros** **19% higher than on January 1st**
the higher value of the ruble was artificial,but done in a smart way,probably on advise of the Russian Central Bank governor Nabiulina
besides using its foreign reserves, Russia forced european companies to pay for gas in rubles, the value of the ruble was artificialy raised,wiht the **benefit of making imports to Russia cheaper**
at the same time,euro was devaluing itself enormousely even compared to other currencies,due to weak outlook on EU’s economy
**since however Putin had the brilliant idea of cutting gas supply to Europe by 75%,the volume of ruble trading was hurt,reducing the artificial effect on the ruble**
meanwhile,improving economic outlook in EU,lower oil and gas prices and inflation growth slowing down make the euro more valuable
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the fall in value of ruble will have 2 effects
* internal revenue of Russian goverment from exports will be higher due to more rubles gained from exports
* price of imports will however skyrocket
How on Earth ruble GAINED value after the start of the invasion? I thought that once it fell after santions it stayed down. Why did this happen?
Still 19% lower than before the invasion of Ukraine
Also, the strengthening of the ruble against the euro means that you Europeans are allowing Russia to buy more of your goods.
The Russian Ruble has no value at all, it’s a contolled currency, nobody wants to get close to it anyway.
The ruble in reality is basically a dead currency to the west.
It hasnt gained any value…
It’s not like it’s really streghthened, it’s just heavily regulated and they will dump it’s exchange ratio when they will need it. Also, r*ssians can’t buy shit with their rubbles from the wect
Well yeah, you can only artificially inflate currency value for so long before it comes crashing down.
Ruble has pure imaginary value. Similar as in soviet union our currency had ,,value” given by the state. However real value was 5x times less.
Real value of ruble nowadays is estimated about 1 USD = 120 RUB , based on prices for imported goods in russia or exchange rates on black market. This will became more and more significant as russian war effort is falling aswell Gas and oil prices.
You can’t even sell ruble, it’s not a real currency anymore so that “value” in this graph actually does not exist
Let’s wait until the Moscow stock exchange reopens and russian stocks can be traded again
These numbers are meaningless, the ruble is not traded in the markets. More accurate value is 0.
Ruble did not gain or lose anything. The Ruble is NOT a free floating currency you can buy on the market. It’s value is FIXED by Kremlin.
Well, if you’d actually be able to sell rubles that would mean something. As you can’t, this is like claiming the cup of coffee I’m currently holding sells for two billion Euros. As long as nobody is buying that for that price, the claim is worthless but it makes for a nice chart.