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World News See other World News Articles Title: Ruble Officially Stronger Than When the Ukraine Border Skirmish Began This almost isn’t even a fair metric, given that the value of the dollar is dropping so rapidly. Maybe the ruble didn’t even go up, the dollar just went down? RT: The Russian ruble strengthened to 76 rubles to the US dollar and 82 against the euro on Thursday, reaching its strongest levels against major currencies since February 23. The ruble plunged to historic lows after Russia launched the special military operation in Ukraine, and the US and its allies imposed unprecedented sanctions targeting the country’s financial system. On March 7, the Russian currency fell to as low as 150 rubles to the dollar. The ruble nosedived on February 24, immediately after the start of the military operation, as international penalties targeted its freely traded currency. Western countries froze Moscow’s foreign reserves, making it difficult for the Bank of Russia to support the ruble by selling foreign currencies. The Russian government took steps to stabilize the sanctions-hit economy, helping the currency to bounce back from record low levels. The central bank introduced immediate capital controls, including a ban on foreigners selling Russian assets, as well as mandated hard currency sales by exporters. The Russian currency received another boost after President Vladimir Putin announced in March that “unfriendly countries” that imposed sanctions against Moscow must now pay for Russian natural gas in rubles only. It is incredible – the West has sanctioned its own self while basically nothing has happened to Russia. Did the State Department think that China was not going to side with Russia? Did they never think that Russia could start demanding rubles for energy exports? Did they think that Europe was going to shut off the energy exports? How would they not have intelligence? This is really like a crazy person breaking into your house and waving around a gun at your family and laughing maniacally, then shooting himself in the head. It’s a mess, it’s ugly, you have to clean it up. But aside from a corpse removal and a carpet cleaning, you’re fine. Who is coming up with all of these ideas? Is it Jake Sullivan and Ned Price? Is it Klaus Schwab? Is Schwab as senile as Joe Biden? Is he pooping himself? What even is going on? How are these people this stupid? Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 1.
#1. To: Ada (#0)
Part of the reason is the ruble interest rate is now an enormous 20%. So loans in rubles are out of the question. Though that does show that the Russian Central Bank isn't afraid to make such moves, unlike the Fed.
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