Russian rouble in free fall

[3NUMBAS]

https://www.express.co.uk/news/world/1981217/russian-economy-freefall-ruble-crumbles/amp

 

the old fella really in trouble now 

[CallumWK]

9 minutes ago, 3NUMBAS said:

https://www.express.co.uk/news/world/1981217/russian-economy-freefall-ruble-crumbles/amp

 

the old fella really in trouble now 

 

Russia has one of the largest gold reserves from any country in the world, and will pay their imports most likely in US$, of which I guess they also have large reserves.

But I think someone else is in bigger trouble, with the winter at the front door.

 

This will prevent the bank from handling transactions related to energy trade which will mean European customers are unable to pay for Russian gas.

 

Say thanks again to the dement criminal in the White House

[NoDisplayName]

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

[NativeBob]

2 minutes ago, NoDisplayName said:

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

That's good one! 

Remark on that BS about russians looting everything including washing machines ))) #ROFL

 

so called "free-fall" is irresponsible style of journalism in UK (and other countries).

[3NUMBAS]

https://cepa.org/article/kremlin-options-narrow-as-ruble-slumps/

[3NUMBAS]

https://www.newstatesman.com/business/economics/2024/11/russias-economy-is-doomed

[Jingthing]

On 11/27/2024 at 3:57 PM, NoDisplayName said:

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

Vladmir thanks you.

[3NUMBAS]

https://www.cnbc.com/amp/2024/11/28/russia-tries-to-stem-panic-over-plummeting-ruble-central-bank-steps-in.html

[NoDisplayName]

57 minutes ago, Jingthing said:

Vladmir thanks you.

 

For what?

 

For asking questions?

 

For not accepting propaganda at face value?

 

C'mon, man!

I'm not a Harris supporter!!!!!!!!!!!

[scubascuba3]

Looks like ruble in an uncontrolled nose dive, long overdue 

[RuamRudy]

On 11/27/2024 at 4:57 PM, NoDisplayName said:

What exactly does this mean?

 

The ruble has essentially been made illegal in western countries, Russia has been banned from Swift, transactions in that currency is difficult.

 

That means the exchange rate is irrelevant.

 

The IMF has upgraded their estimate of Russian GDP, Russians aren't pushing wheelbarrows of rubble to the bakery for a loaf of moldy bread.  Their economy is doing just fine.

 

Why, they even have a surplus of washing machines to catapult at the retreating nazis!

 

Russia still needs to buy imported goods - triangular arbitrage means, if my memory serves me correctly, that the value of the rouble against the Tenge, Yuan or whatever currency they wish to trade in will still reflect the USD value. Imported everything will be more expensive.