Posted on 08/16/2023 1:50:23 PM PDT by Mariner
LONDON (AP) — The Russian ruble on Monday reached its lowest value since the early weeks of the war in Ukraine as Moscow increases military spending and Western sanctions weigh on its energy exports.
It led Russia's central bank to announce an emergency meeting for Tuesday to review its key interest rate, raising the likelihood of an increase in borrowing costs that would support the flagging ruble.
The Russian currency had passed 101 rubles to the dollar, continuing a more than one-third decline in its value since the beginning of the year and hitting the lowest level in almost 17 months. The ruble recovered slightly after the central bank's announcement.
The meeting was set after President Vladimir Putin’s economic adviser, Maksim Oreshkin, blamed the weak ruble on “loose monetary policy” in an op-ed Monday for state news agency Tass. He said a strong ruble is in the interest of the Russian economy and that a weak currency “complicates economic restructuring and negatively affects people’s real incomes.”
Oreshkin said Russia’s central bank has “all the tools necessary” to stabilize the situation and said he expected normalization shortly.
(Excerpt) Read more at yahoo.com ...
Russia gained $600B in net wealth last year.
While North America and Europe lost $10.9 TRILLION.
It is in the best US interests that Russia remains healthy.
For obvious reasons.
What are the thoughts here on investing in Russian Roubles at their low?
How do you know the ruble is at its low?
“What are the thoughts here on investing in Russian Roubles at their low?”
Not sure that it’s legal for a US citizen to do so.
Will they threaten nuclear war? Again? Because of the ruble?
Inside the borders things are likely fine. But everything being brought across the borders are costing 35% more than they were last year.
Russia will slip to third world status.
https://www.youtube.com/watch?v=XN8H6YGoAEg&t
Of course Americans can buy Russian rubles.
First thing in the morning, you can head to the bank, convert all your accounts from dollars to rubles and even sell your home and take all that cash and be a Russian Ruble Multi-Millionaire.
Lol that’s the metric you want to use? Russia has a smaller net wealth than Mexico or Switzerland. Enjoy your third world clown country. US housing values fell last year 3x more than value of *everything* in Russia and the US is still near its all time peak.
😂
“What are the thoughts here on investing in Russian Roubles at their low?”
Probably a good idea, but next to impossible to do, thanks to the Neocon Suicide Sanctions.
“Russia has a smaller net wealth than Mexico or Switzerland.”
...but a HIGHER GNP, measured by PPP, than Germany, and now closing in on Japan (with only China, India, and the US having higher).
We got there first, by taking the Fulton County exit.
We're enjoying our own third world clown country, courtesy of Fatti "Whut You Talkin' Bout" Willis and her co-colluder in 2024 election interference, "Jerk" Smith.
You know - tangible stuff, not like oil, natural gas or minerals.
“We have more IPhones and TikTok videos here in the US.
You know - tangible stuff, not like oil, natural gas or minerals.”
Don’t forget lawyers, shrinks, DEI Enforcers, Environmental Compliance Officers, Labor Unions, and seriously overpriced Organic Food.
While the Treasury Dept issued a ban on purchasing stocks and bonds back in March of last year, currency trade seems to be allowed if you can find it available.
I don’t agree with you….but that’s funny.
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