Meaningless.
You can’t take dividends out of Russia.
Foreign investors can’t sell their investments.
Exporters have to convert half their proceeds into Rubles.
And there’s very few transactions occurring.
At this point the ruble is so manipulated, it’s a meaningless exchange rate.
Nobody except the few is still paying it. China and India to the extent they are buying oil are demanding deep discounts.
Because their trade relationships with the US dwarf that of their relationships with Russia.
All of that and until recently Russian savers were paid 20%... Yes, they are locked into rubles for some time.
I do hope the USD deposit rate doesn’t go anywhere near half that?
But biden could do it? He and his puppet masters are that out of touch.