Maybe it's to early to tell, but the Russian Ruble still hasn't gained or weakened in Thailand

[WEBBYB808]

Not a rant, as it does not affect me, but I am always watching the exchange rates.  I watch the English pound move up and down during  the week and watch it gain in favor of the baht.  Like wise with the USD. they seem to only move on the weekends when it favors the baht.  Now we have many countries in Europe and the West deciding to remove Russia from the SWIFT system.  By no means am I an expert but that would seem to signal a downfall for the Ruble.  So when would one see a change on the exchange rate here in Thailand.   Yes, there are many Russian businesses, and their local businesses  would be revenues in baht,   So if the Ruble tanks, and it doesn't reflect here, and the adjustment isn"t properly made will that help the Baht? Just observing the rate isn't  moving and I can't  understand  why.

[tonray]

Limited activity on the weekend....in addition already considerable drop over the past 30 days already. You'll also notice the dollar/baht rate barely moves on weekends here...all the action happens after the US markets open.

 

[metisdead]

As of Friday:

 

 

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

[CharlieH]

 

"Looks like Russian rubles are no longer being accepted at TT exchange booths in Pattaya."

[metisdead]

 

 

 

https://www.superrichthailand.com/#!/en/exchange

 

[david555]

44 minutes ago, metisdead said:

 

 

 

https://www.superrichthailand.com/#!/en/exchange

 

https://ttexchange.com/

Selling your ruble at 0.00 but can buy if you like .????

[RichardColeman]

Really truly hope all the Russians in Pattaya now cannot send their money in by swift with the swift banks being hit now and the exchange booths  wont accept their cash. Hope they have a truly hell of a life for the next few years.  Go  home and kick Putin out !

[sammieuk1]

Russian rubble by now ????

[JayClay]

1 minute ago, RichardColeman said:

Really truly hope all the Russians in Pattaya now cannot send their money in by swift with the swift banks being hit now and the exchange booths  wont accept their cash. Hope they have a truly hell of a life for the next few years.  Go  home and kick Putin out !

Just three days in and we're already seeing the nasty xenophobia that war brings.

 

Why are you wishing ill will on innocent people? Do you think they all, or even a majority, support this war?

[itsari]

1 hour ago, tonray said:

Limited activity on the weekend....in addition already considerable drop over the past 30 days already. You'll also notice the dollar/baht rate barely moves on weekends here...all the action happens after the US markets open.

 

The forex market is open Monday to Friday 24 hours . Saturday and Sunday closed 

[stephenterry]

25 Feb. The Russian rouble RUB= weakened 4.51% versus the greenback to 84.96 per dollar after softening to a record low of 89.986 per dollar.  The Russian economy relies on a healthy oil revenue, and the USA are now seeking alternative sources.

 

IMO, ONE psychotic man is holding the western world to ransom with nuclear threats if any country or bloc intervenes. Time to eliminate him instead of pussy-footing around.

 

How? As the Ukraine PM is a Russian Jew he should have Israeli Kidon contacts - the unit within Israel's Mossad  - that is well equipped to assassinate enemies.  

 

Yeah, I guess that this post will be slated, as is the norm, but I would hope everyone on this site would willingly support the Ukraine people in their fight for freedom.

[metisdead]

Posts trying to turn this topic into a political discussion have been removed. 

[norbra]

CP recently purchased a major Russian pig/pork processing company, should shareholders be worried?

Edited February 27, 2022 by norbra

[david555]

36 minutes ago, norbra said:

CP recently purchased a major Russian pig/pork processing company, should shareholders be worried?

No , but price of pork shall go up .....it is us common people who loose .... as always paying for the rich ones losses ????

Edited February 27, 2022 by david555

[clivebaxter]

When I was first in Russia in 1970 it was 2 rouble to the UK pound! you could get 7 on the streets.

Edited February 27, 2022 by clivebaxter

[fdsa]

3 hours ago, JayClay said:

Why are you wishing ill will on innocent people? Do you think they all, or even a majority, support this war?

unfortunately the majority does support this war. Most people who are/were against Putin have fleed Russia in 2015-2020 (or got killed lol), and now public polls show that approx 70% people support Putin and thus support war with Ukraine.

Even a few of my friends who have scientific degree got brainwashed by the TV and say that Ukraine must be assaulted and similar stuff.

 

"Ukrainians were killing the innocent people of Donetsk for 8 years!!!"

 

Edited February 27, 2022 by fdsa

[Jingthing]

3 hours ago, JayClay said:

Just three days in and we're already seeing the nasty xenophobia that war brings.

 

Why are you wishing ill will on innocent people? Do you think they all, or even a majority, support this war?

I reckon about a half do based on reporting that I've seen.  Support is higher with older and provincial people. Support is lower with English speakers.

 

I totally agree don't hate on all Russian people because of the actions of Putin the Evil.

 

Edited February 27, 2022 by Jingthing

[JayClay]

4 hours ago, fdsa said:

unfortunately the majority does support this war. Most people who are/were against Putin have fleed Russia in 2015-2020 (or got killed lol), and now public polls show that approx 70% people support Putin and thus support war with Ukraine

Where, in the present climate, will you find a poll that doesn't include a significant amount of people too scared to say "no"?

 

I'm surprised the figure isn't much higher like one of Pryuts super polls tens to be.

[fdsa]

2 hours ago, JayClay said:

Where, in the present climate, will you find a poll that doesn't include a significant amount of people too scared to say "no"?

 

I'm surprised the figure isn't much higher like one of Pryuts super polls tens to be.

there is indeed a small % of people who are afraid to say "no", but you underestimate the power of Putin's propaganda.

My friends, who are relatively young and [I thought they were] smart people mostly support Putin and tell the same cr@p the TV says - they believe that Ukrainian forces shot the Boeing, not Donetsk's thugs armed with the Russian missiles; they believe nobody poisoned Navalny and that it all is fake, as well as Skripals; the current Putin's TV agenda is "Ukraine was killing innocent Donetsk's people for 8 years! so Ukraine deserves this war!" and guess what my friends say.

 

Of course, they do not watch TV. But Putin's cyber forces are already working in Youtube, Instagram, Tiktok and other social networks, so the same TV agenda is everywhere in the Internet.

 

Edited February 27, 2022 by fdsa

[JayClay]

17 hours ago, fdsa said:

My friends, who are relatively young and [I thought they were] smart people mostly support Putin and tell the same cr@p the TV says

Well that's a nice story, but extremely anecdotal.

 

While we can't fully discredit personal experiences in our assessment of any given situation, I would argue that "your friends" make up an incredibly insignificant sample size of the 144 million people in the population of Russia.

 

The images I'm seeing from reputable news outlets of mass protests, people willing to go to prison to make their voices heard, continue to make me skeptical of this 70% figure that has been mentioned elsewhere in the thread.

 

Even if the number was as high as 70%, it's still a pretty horrible mindset to wish suffering on the remaining 30%.

[mtls2005]

Witty Twitter exchange...

 

Rick Wilson@TheRickWilson·1h

Russia's going to have to base its new currency on blank cassette tapes, Levis, and American cigarettes at this rate.

 

Louise Mensch ????????????????@LouiseMensch·16m

Can’t afford the Levi’s

[KhunBENQ]

As another posted pointed to, the Ruble fell sharply this morning.

It had it's 0.9x value until 2014 (Crimea annexation).

From there going down to around 0.50.

Through the last days it lured around 0.38.

This morning another sharp drop to 0.31.

Do the comparison to your currency to get an idea what that means.

Would expect that the downturn continues.

Some exchanges in Thailand have stopped buying Ruble.

The 10 year chart:

 

[Banana7]

You are right, it's very early to see the full impact on the Russian ruble. After a decision is made, its not an instantaneous process to invoke and change processes. It takes time to re-program and test the money transfer computer systems. Also Russia had substantial foreign reserves and gold, which will be used to prop up the RUB. New York market hasn't opened for Monday Feb. 28 yet. Some countries are late to make the decision to impose sanctions; like South Korea and Singapore. I estimate in 10-20 days we'll see a substantial portion of the impact of these new sanctions.

 

Also the Bank of Russia has increased interest rates from 9.5% to 20% per annum.

 

“The Bank of Russia will assess the feasibility of opening trading on other markets, depending on the development of the situation,” the statement said, adding that a decision on whether to open up the floor to other markets would be made at 1 p.m. local time (5 a.m. ET), with trading starting no later than 3 p.m. local time (7 a.m. ET).

 

The United Kingdom will immediately impose more sanctions against Russia, banning British entities from undertaking financial transactions involving the Russian Central Bank, the Russian National Wealth Fund and its Ministry of Finance, the government said in a statement Monday. London will make further designations this week, the statement said.

 

The measures — enacted in concert with the United States and European Union — will prevent the Russian Central Bank “from deploying its foreign reserves in ways that undermine the impact of sanctions imposed” by the UK and its allies, and will "undercut its ability to engage in foreign exchange transactions to support the Russian rouble,” the statement said. 

 

 

Edited February 28, 2022 by Banana7

[metisdead]

On 2/27/2022 at 7:23 AM, metisdead said:

As of Friday:

 

 

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

 

And now today:

 

 

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

[KhunLA]

Banks aren't taking any chances, as that's a wide margin buy/sell compared to other currencies.

 

Edited February 28, 2022 by KhunLA