3.5% bump?
from an eminent bank?
Where have all the people who claimed that sanctions were ineffective gone?
The time until hyperinflation is ticking down.
Putins worse nightmare on top of everything else he has created. He just cannot afford to have a falling Ruble. War is a very expensive thing and can bankrupt a country and cause hyperinflation
All hail the Glory of Russia! 🤣🤣
now we also know that Russia’s claim that it has 570 billion USD in Central Bank Reserves( of which 300 billion are frozen) is kinda bullshit
​
if you have so much reserves, **you would use the reserves instead of to letting the currency devalue and raise interest rates**
they might have 270 billion in unfrozen reserves,but if most of those are yuan or Indian rupees,they are not of much use
neither China nor India will accept Russia dumping rupees or yuans on the exchange market to stabilize their currency,as they already have enough on their plate
​
in hindsight, making Russia receive payments in rupees or yuans for its oil was the most effective sanction so far
5 comments
3.5% bump?
from an eminent bank?
Where have all the people who claimed that sanctions were ineffective gone?
The time until hyperinflation is ticking down.
Putins worse nightmare on top of everything else he has created. He just cannot afford to have a falling Ruble. War is a very expensive thing and can bankrupt a country and cause hyperinflation
All hail the Glory of Russia! 🤣🤣
now we also know that Russia’s claim that it has 570 billion USD in Central Bank Reserves( of which 300 billion are frozen) is kinda bullshit
​
if you have so much reserves, **you would use the reserves instead of to letting the currency devalue and raise interest rates**
they might have 270 billion in unfrozen reserves,but if most of those are yuan or Indian rupees,they are not of much use
Indian rupee already has a devaluation problem,
[https://www.fxstreet.com/news/usd-inr-price-analysis-indian-rupee-stays-on-the-way-to-refreshing-record-low-past-8300-202308150325](https://www.fxstreet.com/news/usd-inr-price-analysis-indian-rupee-stays-on-the-way-to-refreshing-record-low-past-8300-202308150325)
and China’s youth unemployment was 21% last month( **and will stop being reported next month)**
[**https://www.cnbc.com/2023/08/15/china-economy-july-industrial-output-fixed-asset-retail-data.html**](https://www.bbc.com/news/business-66506132)
neither China nor India will accept Russia dumping rupees or yuans on the exchange market to stabilize their currency,as they already have enough on their plate
​
in hindsight, making Russia receive payments in rupees or yuans for its oil was the most effective sanction so far