Russians Line Up To Buy US Dollars As Ruble Plummets After New Sanctions

Newsweek ^ | 6/13/24 | Isabel van Brugen

[Round Earther]

Russians lined up to purchase U.S. dollars after the Moscow Exchange enforced an immediate suspension of trading in dollars and euros in response to fresh U.S. sanctions, a video circulating on social media appears to show.

Russia's central bank said Wednesday that exchange trading and settlements of deliverable instruments in U.S. dollars and euros were suspended effective June 13 "due to the introduction of restrictive measures by the United States against the Moscow Exchange Group." It added that over-the-counter trading data would be used to set official exchange rates for the currencies.

[ASOC]

LOL

Everything old is new again.

When I was working in ‘Russia’ (CIS - Komi Republic) The Russian staff would run to the bank on payday (which had to be Weds AT NOON) to trade their Rubles for dollars. \\

This was in 1995.

[Cronos]

RWM - there is the official exchange rate (87 R to 1 USD) and there is the real, black-market rate which is 100s of rubles to 1 USD

[blitz128]

Perhaps, but the value of the ruble is now set basically by Russia, would be interesting to see what a dollar actually costs or what you can get for it in Russia. Just a guess but I bet it is a “tad” bit more than 87

[Steven Tyler]

Newsweak is fake news
Russia put in a gold/ruble floor
Ruble to US Dollars has been very stable
https://www.xe.com/currencycharts/?from=USD&to=RUB

[AndyJackson]

Buy dollars sell rubbles. Sign up here for how you can make a fortune in foreign exchange. Not investment advice but we hope you take it anyway cuz we make our money off of suckers like you.

[faithhopecharity]

jumping out of the frying pan into the fire

[Widget Jr]

The Moscow Exchanged stopped trading in in rubles.
Major Russian banks shut down their websites so Russians cannot withdraw money.
The central bank imposed an exchange rate by decree.

If that happened to any other currency, no one would call it stable or trust it.

[NorseViking]

The story is a BS. Dollar is not a big thing in Russia for quite some time already.

[Steven Tyler]

1 USD = 89.3201 RUB

Jun 15, 2024, 10:31 UTC

[Widget Jr]

The exchange rate is not a reflection of the health or stability of the Ruble, and it definitely is not Russia's economic outlook for the next ten years.

Joe blogs: "RUSSIAN Ruble is Dead as a Global Currency as Russia Uses YUAN for Trade & Russian Company Debt", Mar 9, 2024.
Jake Broe: "The Russian Rouble is COLLAPSING! Why now?" , June 13, 2024.

[dfwgator]

[Steven Tyler]

I posted the exchange rate to help you knock off the nonsense you spew