Posted on 04/22/2023 7:20:29 AM PDT by marcusmaximus
The Russian currency has fallen yet again against the dollar and euro. Is it just a cycle, or is something bigger going on?
Since the beginning of the year, Russia's currency, the ruble, has lost 16% of its value against the dollar and 13% against the euro. This week, it was trading at around 83 rubles to the former and 91 against the latter. This makes it the third-worst performing global currency so far this year, behind the Egyptian pound and the Argentine peso.
Following the invasion of Ukraine in February 2022, the currency immediately fell to 113 rubles against the dollar. But Russia's central bank and finance ministry pumped money into the market and managed to bring it back up to 50 rubles per dollar in July. Then, late last year, the West imposed a price cap on Russian oil. The world's second-largest oil exporter after Saudi Arabia has seen its currency slip ever since. So, what happens next?
Why did this happen?
The ruble's downturn in recent weeks has been due by higher imports and heightened foreign capital outflows, Russian officials say. Some observers agree that this is indeed part of the reason, as Russian tax revenues in January fell by 35% alone.
(Excerpt) Read more at dw.com ...
That's a really intellectually sound argument.
This factual article must be “propaganda” because certain geniuses here tell us Russia’s economy has never been better, and “ruble is strong as bull”.
Argentina peso stronk as bull!
We see it with stock market reportage all the time.
35% in a month? Yikes.
Ruble fell because no body wants it. They are getting ready for the Yang. Only Trump can put a stop to this eventuality.
Probably Euro and US pressure caused some gas/oil/ng purchases to get away from Russia but it won’t last long.
How about, the value of the Ruble is going down because there is a war, and Russia’s own resources are going into things that get used up in combat or destroyed, instead of making things (other than oil/gas) that can be exported. Variations happen to most countries in a large scale war.
All in all, it’s just another BRICS in the wall
The ruble is a piece of paper with ink printed on it. So is a dollar. Both are created by their central banks out of nothingness on a whim.
It’s hard to make a case for anything that comes from nothingness to have meaning.
A barrel of oil is 6.1 billion joules. That is the only value that matters.
The sanction war has been total failure. It's harmed Americans by increasing inflation and devastating Europe.
And, if you think the masses are putting up the kind of inflation we've seen in the past year so sickos like you and the elites running the "liberal world order" can fight a proxy war against Russia, think again.
Imagine what is happening in France in a country with 400 million guns. Bang! Bang!
Your Putin canceled the Holy Lake mosque! LOL!
—”A barrel of oil is 6.1 billion joules. That is the only value that matters.”
If that is your single metric, there are competing factors.
Since the Russian, only rubles for oil sales program was a flop; now for special customers China and India, yuan and rupees are accepted. September 2022 when they began accepting yuan for oil 1 yuan equaled ~8.8 rubles...
Today 1 yuan buys 11.8 rubles.
The ruble rupee chart is similar.
Such a deal!
https://www.xe.com/currencycharts/?from=CNY&to=RUB
The Chinese and Indians are running a huge arbitrage operation and making big bucks.
Saudi Arabia and UAE on a smaller scale.
All of this depresses oil prices, as planned.
Imagine a fool like you calling others an idiot.
Live in Russia it’s such a paradise.
Which way is their population going, comrade?
Oh yeah down.
You just managed to accomplished that.
Go volunteer as a mercenary for Ukraine if you hate the Russians so much, you disgusting neocon POS.
When the Ukraine War started in 2022, there was a HUGE ruble crash to 126 followed almost instantly by a HUGE ruble gain to 51.
What? The ruble value is completely backwards!
Not really.
The fluctuating ruble is being compared to a constant 1 USD purchase.
When the ruble went to 126, that means 1 USD cost 46 MORE rubles than when it was at 80.
When it went straight down to 51, that means 1 USD cost 75 LESS rubles.
Here is a link to a 30 year ruble to 1 USD chart.
If the 30 year chart does not come up, click the word ALL just above the chart.
https://www.cnbc.com/quotes/RUB=
What Jersey Devushka doink? LOL!
You missed the point.
There are no bux. There are only joules.
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