>The ruble broke through the psychologically important level of 100 to the dollar for the first time since March last year, even after Russia’s central bank sought to arrest the slump by halting its foreign-currency purchases on the domestic market for the rest of 2023.
>Russia’s currency has weakened by about 25% against the dollar so far this year, placing it among the three worst emerging-market performers with the Turkish lira and the Argentine peso. It’s almost halved in value from its peak in June last year as President Vladimir Putin’s invasion of Ukraine grinds on with no end in sight and sanctions including an oil price cap slash revenue from exports.
In the event that it crashes even more, perhaps the populace will finally rebel against the Kremlin and awaken from Putin’s nightmare. especially after seeing China acquire the majority of Russia
So far, this is purely a psychological effect. Putin does not care about poor people, and the oligarchs will even make money on this. but the trends are not bad, the Russian government has stopped injecting money to maintain the exchange rate, which means that they do not have money for this, they will now try to freeze the exchange rate at this level, and see what comes of it, the desired results are 150 and above rubles per dollar in order to hurt the Russian economy. we need to look at another indicator of the population’s creditworthiness, in Russia this indicator has been growing rapidly over the past two years. especially the number of people whose 80-90 percent of their income goes to repay loans, these are the poor fellows who take loans to repay other loans at a rate of 20-30 percent. the situation is quite serious, so much so that for several months now the leadership of their Central Bank has been demanding that the Banks stop issuing loans to people, because this can threaten with a soap bubble.
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>The ruble broke through the psychologically important level of 100 to the dollar for the first time since March last year, even after Russia’s central bank sought to arrest the slump by halting its foreign-currency purchases on the domestic market for the rest of 2023.
>Russia’s currency has weakened by about 25% against the dollar so far this year, placing it among the three worst emerging-market performers with the Turkish lira and the Argentine peso. It’s almost halved in value from its peak in June last year as President Vladimir Putin’s invasion of Ukraine grinds on with no end in sight and sanctions including an oil price cap slash revenue from exports.
In the event that it crashes even more, perhaps the populace will finally rebel against the Kremlin and awaken from Putin’s nightmare. especially after seeing China acquire the majority of Russia
So far, this is purely a psychological effect. Putin does not care about poor people, and the oligarchs will even make money on this. but the trends are not bad, the Russian government has stopped injecting money to maintain the exchange rate, which means that they do not have money for this, they will now try to freeze the exchange rate at this level, and see what comes of it, the desired results are 150 and above rubles per dollar in order to hurt the Russian economy. we need to look at another indicator of the population’s creditworthiness, in Russia this indicator has been growing rapidly over the past two years. especially the number of people whose 80-90 percent of their income goes to repay loans, these are the poor fellows who take loans to repay other loans at a rate of 20-30 percent. the situation is quite serious, so much so that for several months now the leadership of their Central Bank has been demanding that the Banks stop issuing loans to people, because this can threaten with a soap bubble.
Obligatory reminder that russia lies about everything:
https://m.jpost.com/business-and-innovation/opinion/article-738731
Good
ruzzia can draw any number they want, ruble is not a free traded currency, so all those numbers mean nothing in reality
Eat shit Vlad.
Good!
Get f’ed.
What’s the worst it’s ever been? I seem to remember the ruble was weaker than 1 to 1000 in Street trading during Yeltsins time.