I'm inclined to believe that there is a higher street rate.
Posted on 12/17/2014 4:01:33 AM PST by elhombrelibre
The dramatic fall in Russia's ruble slowed on Wednesday, with the government selling foreign currency to prop it up after a 50 percent fall against the dollar this year.
Losses were partly contained by exporters selling dollars in preparation for paying their monthly tax bills but the slide was less precipitous than in the past two days when it fell about 20 percent against the dollar.
At 0508 ET, the ruble was down around 1.6 percent against the dollar at 68.58 rubles per dollar and was 0.3 percent weaker versus the euro at 85.40.
(Excerpt) Read more at reuters.com ...
I'm inclined to believe that there is a higher street rate.
In fact as we speak USD lost 3,4% and Euro 4,2% to ruble since opening.
I’ll have to take wetty’s opinion; she gets them from the Central Committee.
Banks has set restrictive rates to keep out hordes of babushkas overrunning them with cash out of sock drawers since yesterday due to a panic in media.
If you want to sell USD you would get high 50s and Euro are at lo 70s max.
Someone posted pictures of the exchange rates in Moscow yesterday (on Facebook) the rate was 150:1 for the euro and 120:1 for the dollar.
Some companies stopped allowing trades in the ruble, so that may explain the reason for its apparent stabilization.
USD -3,6%, Euro -3,7%.
0.015 US Dollar
Great job, Vlad.
Speculators or is it being purposely blown a bit out of proportion? If as bad as some stories have it, things could get ugly (uglier) around the 3rd rock from the sun.
Putin had a lot of fans on FR over the last year or two.
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