Russian Ruble Surpasses Brazil’s Real as Year’s Best-Performing Currency

[Hydrogen]

(Bloomberg) -- Capital controls imposed by Russia have turned the ruble into the world’s best performing currency this year, though not many people can pocket a profit on the rally.



image link:  https://i.ibb.co/TtBp8hY/russian-ruble.jpg

The ruble resumed its advance against the dollar on Wednesday as the Moscow Exchange reopened after two days of public holiday. It’s now up more than 11% against the US dollar since the start of the year, surpassing the real’s 9% advance to become the top gainer among 31 major currencies tracked by Bloomberg. The offshore rate is up even more, about 12%.

The ruble’s gains result from a series of measures taken by the government to defend the battered currency in the aftermath of Western sanctions. On top of imposing capital controls, Russia has forced exporters to sell foreign-exchange and is demanding its natural gas be paid for in rubles. Strategists say the rally isn’t credible as many currency-trading shops have stopped dealing in the ruble on the grounds that its value seen on monitors is not the price it can be traded at in the real world.

Still, the irony of the ruble performing so well while at war is remarkable, especially as other countries that imposed capital controls in the recent past have not achieved the same results. Turkey and Argentina tried similar measures when they faced a horde of sellers in the past few years with disastrous consequences for the lira and the peso, which reached fresh all-time lows and never recovered.

The ruble took over from the real as the world’s best performer as the end looms for Brazil’s monetary tightening, which is weighing on the currency. After raising the benchmark rate by 1,075 basis points since early 2021, policy makers in the Latin American nation have signaled a slowdown in the pace of hiking, as well as their intention to wrap up the cycle soon. While the real’s carry will remain high, the spread to US rates will likely shrink as the Federal Reserve keeps raising borrowing costs at an aggressive pace.



https://finance.yahoo.com/news/ruble-surpasses-brazil-real-best-162446964.html

....


Someone said russia is headed towards ruin and being outperformed by the united states economy.

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Meanwhile in the united states retailers are bracing for bad earnings reports due to inflation:

https://www.reuters.com/business/wall-st-week-ahead-retailers-set-earnings-stage-after-inflation-sparked-market-2021-05-14/

Evidence appears to suggest the US economy is weakening while the russian economy and its native currency is becoming stronger.

Where does this idea some have that russia's economy is doing poorly come from?

[1714881419]

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[1714881419]

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[1714881419]

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[1714881419]

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[Fortify]

....


Someone said russia is headed towards ruin and being outperformed by the united states economy.

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Meanwhile in the united states retailers are bracing for bad earnings reports due to inflation:

https://www.reuters.com/business/wall-st-week-ahead-retailers-set-earnings-stage-after-inflation-sparked-market-2021-05-14/

Evidence appears to suggest the US economy is weakening while the russian economy and its native currency is becoming stronger.

Where does this idea some have that russia's economy is doing poorly come from?

It is an illusion, Putin wanted the rouble to be propped up after it collapsed but as always this has unintended consequences - the central bank of Russia is dropping interest rates because a strong rouble means it buys less foreign currency. There are currency controls in place preventing free market corrections, foreign companies who want to escape are currently tied in from selling any assets at the best price (which is why ridiculous nationalisation plans are being drawn up). All of these are the actions of incredibly weak and short sighted politicians.

While it may generate huge sums from selling energy and have a nice reserve of funds, it is still a basketcase economy. This is what happens when corruption infects every part of a society and people do not have the structures around them that encourage innovative thoughts. It will survive in the short to medium term being economically isolated, but it has the potential to be so much greater if it had a better government.

The graph you posted effectively tracks the price of oil movements over the same timeframe - if the rest of the world fell into recession, the price of oil dropped, then Russia's undiversified economy would suffer among the worst.

[be.open]

It is an illusion..

When in Argentina and Turkey they tried to make the same illusion with similar methods, they did not succeed.

[NeuroticFish]

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Since what we have there is far from what we could call free market, since the ruble going up is a blatant scam/market manipulation, I don't know why we should compare that "performance" with anything else.
It's (yet another) highly cunning move from the Russians. Since some weaklings have accepted to pay in rubles for the already overpriced gas and oil, they'll pay even more, since the ruble is "strong". It would be funny if it wouldn't be so painfully sad. More money for Putin's war effort...

[cabron]

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Since what we have there is far from what we could call free market, since the ruble going up is a blatant scam/market manipulation, I don't know why we should compare that "performance" with anything else.
It's (yet another) highly cunning move from the Russians. Since some weaklings have accepted to pay in rubles for the already overpriced gas and oil, they'll pay even more, since the ruble is "strong". It would be funny if it wouldn't be so painfully sad. More money for Putin's war effort...

Well whoever have the energy resources will most likely going to rise up and Russia has the means to. The mainstream media are already realizing how misinformed we are when it comes to Russia's capacity. They were reluctant to publish these information before but now we are seeing it on Reuters. This network is known to rubbishly lie about everything we know about world issues but here they are. Gas and Oil made it happen as Putin asks to pay in rouble, its the law of supply and demand.

Brazil is also one of the biggest in Latin countries which Russia and Brazil is among the founding countries in the block called BRICS, its an economic block consisting Brazil, Russia, India, China and South Africa.

[StanCrypt]

It is true that despite escalating sanctions and the bullish pace of the greenback, the Russian ruble has seen significant gains versus the US dollar nearly ten weeks into the war. The ruble was up 20.32 percent against the dollar as at the begining of the month, trading at $67.09, down from $84 a month ago.
Fears of a eurozone recession, along with the Euro's bearish trend, have also reignited the possibility of the currency reaching parity with the US dollar.

https://nairametrics.com/2022/05/04/russian-ruble-gains-20-against-the-dollar-within-a-month/

But inspite of the fact that the ruble is currently swinging in value versus the dollar, the Russian economy is significantly showing indications of deterioration. Russia's economy is experiencing a downturn unlike any it has ever seen, and this and many reasons has made many educated Russians to apparently abandoning the country. In a report, the Institute of International Finance stated, "The current crisis will wipe out 15 years of economic improvement."

[Flexystar]

Certainly this is a trick. In fact while reading all those thoughts were running through mind, how is it even possible when they are almost cut off by the world's leader in terms of financial aspect and also trade and businesses too. It's highly impossible to go 11% in just two days and moreover they have already lost so many contracts, then how they are getting paid anyways?

May be the news where they imposed only ruble payments for oil payment could have triggered the market surge. Its all mind game at this point, there is no possible way they would have gotten so much capital.

[Moneyprism]

we don't know how the rubble will perform in the future .. in the short term the rubble's performance may be good but no one can guarantee the performance of this currency in the future .. especially when America manages to control their inflation and their economy starts to bounce back

[davis196]

This is just made up by the Russian central bank.
The Russian currency market is totally manipulated and controlled by the Russian central bank and the Russian government.
The Russian ruble isn't freely convertible on the global currency markets, which means that the real market value cannot be determined.
Imagine having one currency market with 10 traders and 1000 daily transactions on the one side and another market with 10000 traders making 100K daily transactions on the other side. Which currency market will provide more accurate prices? The second one, of course.
The market for Russian rubles looks more like the first one. I'm not trying to shit over Putin's financial policies, but the so called "stability" and "best performance" of the ruble is going to be used mostly for Putin's propaganda.

[Mauser]

Where does this idea some have that russia's economy is doing poorly come from?

The idea of the Russian economy failing is coming from western economics who base their argumentation on the sanctions the West has against Russia. This is of course a bit misleading because Russia is trading with the whole world. And if countries like Holland or Poland are being cut off from the gas trade its not that Russia will sit on all the excess gas. The whole world needs energy and many countries are still friendly with Russia. If the price is right they will keep buying from them. I think that the initial shock on the Russian economy came from the fear of a war between Nato and Russia. But the Western countries made it clear they are not going to intervene on Ukraine. We will have to watch over the next 12 month how hard the Russian economy is being affected. The currency markets might be the wrong indicator with the high inflation we see right now.

[stompix]

You're looking at the graphs of a Potemkin currency and funny enough you're believing it.

First, just like other failed currencies from the Zimbabwe dollar to the Iranian rial and the Venezuelan bolivar, the exchange rate men's nothing since, you can't go to a bank and ask for dollars at that rate, making it even worse in Russia you can't even ask for dollars at all.

This is not something new it's the same thing as the Soviet ruble, you had three exchange rates
- the official at one rube to 1.35 dollars that stayed nearly the same for a decade despite the country going bankrupt at every step
- the same official rate for export and import companies and government officials where the rate was far lower but was still supported by the state
- the real rate that was sometimes x10 lower for any citizen that wanted to buy real $

This is again the same, they are trying to prop the currency to save face, you can't have a currency that is printed at 20% with bank deposit going up, everyone knows what happens when you do so, you have the Anchor/ Terra fiasco once more, the same insane rate with money that can't come from anywhere as there is no money left.

Well whoever have the energy resources will most likely going to rise up and Russia has the means to. The mainstream media are already realizing how misinformed we are when it comes to Russia's capacity. They were reluctant to publish these information before but now we are seeing it on Reuters. This network is known to rubbishly lie about everything we know about world issues but here they are. Gas and Oil made it happen as Putin asks to pay in rouble, its the law of supply and demand.

And despite having more gas and oil and getting paid in rubles the USSR still went down the drain.
So, what's the majik trick the country with one of the lowest GDP per capita in Europe, competing with Moldova and Montenegro will pull out of the hat this time?

[Hydrogen]

.
So, what's the majik trick the country with one of the lowest GDP per capita in Europe, competing with Moldova and Montenegro will pull out of the hat this time?

Many said if the american national deficit becomes too large, the united states can simply invade another country to confiscate their wealth. Putin may read internet forums and have decided this is a good idea. If russia lacks GDP per capita they can simply invade and pillage ukraine to elevate their native GDP stats. (Sad it is, Putin may merely be echoing sentiments internet trolls made for many years.)

I got the impression russia's ruble is backed by petroleum reserves, natural gas and other commodities.

Venezuela was the wealthiest nation in south america when their currency was backed by oil commodities. Decline of oil exports made bolivar hyperinflation possible.

Overprinting of fiat currency trends with declining value. I am interested to know how people correlate the rising value of the russian ruble with Putin overprinting it. Russia is not close to being the worst offender as far as overprinting fiat currency goes.

[stompix]

Many said if the american national deficit becomes too large, the united states can simply invade another country to confiscate their wealth. Putin may read internet forums and have decided this is a good idea. If russia lacks GDP per capita they can simply invade and pillage ukraine to elevate their native GDP stats. (Sad it is, Putin may merely be echoing sentiments internet posters made for many years.)

Worked wonders when the USSR invaded Afghanistan!

I got the impression russia's ruble is backed by petroleum reserves, natural gas and other commodities.

So was the Soviet ruble.

Venezuela was the wealthiest nation in south america when their currency was backed by oil commodities. .

That was in the '70s, should we go back in time to when Timbuktu was a leading city because of the salt trade?

Overprinting of fiat currency trends with declining value. I am interested to know how people correlate the rising value of the russian ruble with Putin overprinting it.

People can't correlate the rising value because there is no rising value other than on the screens of Russia Today.
The whole exchange rate is fake as hell and you can see that in every clip from Russia, if you look at the exchange rate it looks like those tomatoes are 5$ per kilo, higher than everywhere in the world, apples 3$ per kilo but that's just because the exchange rate is fake, fake as it can possible be faked and that is seen in the prices too.
 

[countryfree]

It's all fake.

I've checked in Barcelona and Milano. There are currency exchange booths at the airports. They used to buy rubles, but not anymore. You could travel with a suitcase full of cash, if it's rubles, you couldn't do anything with it. Nobody's buying.

[Reid]

The economic breakdown of Russia is based on the perfection of the sanction. They thought every country will participate and join the crusade to lock them down in their own country without any imports or exports but they didn't.
Other countries badly needs gas and oil and without it they will be fucked. Middle-East countries oil distributors didn't have enough to fill all their tanks especially Europe so they'd go back to taking it from Russia.
The only catch is Putin won't accept any currency as payment. They want Ruble.   Demand is high, the circulation is better, and now is the result.

[Mometaskers]

Maybe the sanctions are not working. Or maybe its the effect of them demanding oil and gas to be bought in rubles. Or maybe they are manipulating the figures and this is something that they can easily do. Either way I'd take any figure coming out of there with skepticism.

It's all fake.

I've checked in Barcelona and Milano. There are currency exchange booths at the airports. They used to buy rubles, but not anymore. You could travel with a suitcase full of cash, if it's rubles, you couldn't do anything with it. Nobody's buying.

I guess that's one measure of a currency's true strength - whether people trust that it have and will retain value.

[DrBeer]

Evidence appears to suggest the US economy is weakening while the russian economy and its native currency is becoming stronger.

Where does this idea some have that russia's economy is doing poorly come from?

Thank you for amusing me (I'm sure not only)! Laughed heartily!
I won't talk about the US economy. But about the Russian economy with pleasure, especially since it is so beautiful.
Tell me, is it realistic for you, the economy that is on the world market, over the past few years has reduced its share from 2.4% to 1.7%, is this a powerful economy? And in general, how much or significant? Seriously ! With such success, one can speak about the economy of Burkina Faso, Armenia, Swaziland .. How do they differ from the Russian economy? And yes - they have no gas and oil, for sure !!! But the embargo will fix that very soon. And as one person said, "Russia is Zimbabwe with snow." Let's leave Zimbabwe alone, they are already not pleased that they are compared with Russia, let's take another country. Nigeria! Why ? And because Nigeria can, in many respects, be compared with Russia. In terms of population, Nigeria is larger than Russia. The economy is also resource-based. But only in Nigeria it is really growing, unlike "great Russia"

About the economy - I think a good indicator of the economy will be the standard of living of the country's population, right? So here we are back to Zimbabwe. The poverty rate in these two countries is essentially the same. In Russia, the truth is that propaganda is working to the fullest, telling how all the inhabitants of Russia are prospering, but .. this is a fake. Name me any developed country where ordinary foodstuffs are sold in installments? No, not exclusive giant tuna, from the auction, but ordinary bread and staple foods! I think this can be finished ... Information can be found extremely easily in open sources

[Sithara007]

I analyzed both sides of the argument here. IMO, the Russian central bank doesn't need to manipulate the currency in a big way to prop up the Ruble. Corporations such as Rosneft and Gazprom are required by law to convert 50% of their forex revenues to Ruble (it was 80% a few weeks back, but then the level was lowered by the government). Given the massive oil and gas revenues directed towards Russia, this step is alone to keep the Ruble exchange rates stable for a long time. And from what I heard, the other capital control measures are easing as well.

[be.open]

I analyzed both sides of the argument here. IMO, the Russian central bank doesn't need to manipulate the currency in a big way to prop up the Ruble. Corporations such as Rosneft and Gazprom are required by law to convert 50% of their forex revenues to Ruble (it was 80% a few weeks back, but then the level was lowered by the government). Given the massive oil and gas revenues directed towards Russia, this step is alone to keep the Ruble exchange rates stable for a long time. And from what I heard, the other capital control measures are easing as well.

It looks like you do not understand the essence of the problem that is now facing the Central Bank of Russia. He now needs not to strengthen the ruble, but rather weaken it - in order to benefit from Russia's huge trade surplus. Therefore, the reduction in the mandatory rate of sale of foreign currency for exporters to 50%, and the increase in the period of mandatory sale to 120 days (which actually completely cancels it). And the problem is that it seems that this is not enough - after the recent sharp reduction in the key rate, the ruble has weakened, but now it has begun to strengthen again. Because Europe now needs rubles to buy gas, and in Russia no one needs dollars and euros because of the loss of confidence in them and high sanctions risks.

[Darker45]

What's the big deal with this? Even the subheading itself of the article you are quoting suggests that this is net negative. The positive thing is that the ruble has become the "world’s best performing currency this year." On the other hand, this is because of the "capital controls imposed by Russia" and that "not many people can pocket a profit on the rally." That's 1 good news against 2 bad news.

Moreover, the news article also says that aside from imposing capital controls, Putin has also "forced exporters to sell foreign-exchange." That's besides "demanding its natural gas be paid for in rubles." That's a lot of extremes just to save the ruble from falling.

Still, however, "strategists say the rally isn’t credible as many currency-trading shops have stopped dealing in the ruble on the grounds that its value seen on monitors is not the price it can be traded at in the real world."

Also, that Russia succeeded, at least so far, where Turkey and Argentina failed doesn't amount to so much. It could simply mean Turkey and Argentina, fortunately or unfortunately, lack a Putin who's got a much tighter grip on everything within the country.

[Sithara007]

It looks like you do not understand the essence of the problem that is now facing the Central Bank of Russia. He now needs not to strengthen the ruble, but rather weaken it - in order to benefit from Russia's huge trade surplus. Therefore, the reduction in the mandatory rate of sale of foreign currency for exporters to 50%, and the increase in the period of mandatory sale to 120 days (which actually completely cancels it). And the problem is that it seems that this is not enough - after the recent sharp reduction in the key rate, the ruble has weakened, but now it has begun to strengthen again. Because Europe now needs rubles to buy gas, and in Russia no one needs dollars and euros because of the loss of confidence in them and high sanctions risks.

OK.. now it is a bit more clear. I was surprised when the Ruble weakened in the last few days from high-50s to mid-60s. But as you mentioned, it strengthened once again to 1 USD = 63 RUR. The Central Bank maybe looking for an exchange rate somewhere in the vicinity of 65-70. BTW, there are reports that the Yuan-Ruble trade has surged by more than 1,000%. Monthly volumes are now more than $4 billion, and this is one of the most significant challenges USD has faced till date in international trade.

https://www.bloomberg.com/news/articles/2022-05-30/yuan-ruble-trading-explodes-as-america-s-rivals-rebuff-dollar

[fiulpro]

1. They are asking to be paid in rubles for all the natural gas there is everything that they can sell as well.
2. The country is trying to still get some control over the people's money by forcing them to sell the international currencies that they might be holding and making the domestic currency stronger

This definately works and is working but how long till they are able to maintain this ? They won't be able to maintain this control for long since this is going to go away sooner or later and then they would have a long crash ahead of them, I do not think that this buffer system would work for long.

[stompix]

It's a never-ending surprise how easily the attitude of people changes and they forget where we are, on bitcointalk.
Suddenly everyone forgets all their hate about fiat money, forgets about control, forgets about priting money and cheers the most dictatorial system in the world just because they want to take Russia's side.
You have currency control, you have banks restricting your access to your money, you have the government forcing you to convert your own money again with a choice but no, let's cheer this move because what Russia does it's so great!

Seriously, if Russia is such a  powerhouse of an economy, if the ruble is backed by billions in oil and gas, why are your people here and talking about bitcoin, why don't you invest in the ruble and be done with it?

It looks like you do not understand the essence of the problem that is now facing the Central Bank of Russia. He now needs not to strengthen the ruble, but rather weaken it

So why aren't they allowing people to buy $ at that exchange rate, that for sure would weaken the currency...oh ..wait..a fake problem, just how everything about the ruble is fake.

Monthly volumes are now more than $4 billion, and this is one of the most significant challenges USD has faced till date in international trade.

You might want to check the euro-usd volume, it's not in months but days and not billions but trillions. Challenge my ass.
Oh btw, don't forget, one month has either 30 or 31 days if we exclude February, it never has 40!

[be.open]

It looks like you do not understand the essence of the problem that is now facing the Central Bank of Russia. He now needs not to strengthen the ruble, but rather weaken it

So why aren't they allowing people to buy $ at that exchange rate, that for sure would weaken the currency...oh ..wait..a fake problem, just how everything about the ruble is fake.

In Russia, you can buy non-cash dollars and euros in a bank or on a currency exchange, the question is why? Even if you transfer them to the West through a bank that is not under sanctions and is not disconnected from Swift, and pay for some European or American goods, you will have logistical problems with delivery. Therefore, dollars and euros in Russia are not particularly in demand now, and the ruble is growing.

[stompix]

In Russia, you can buy non-cash dollars and euros in a bank or on a currency exchange, the question is why?

What about cash, like in any normal country, from Mexico to Japan from Nigeria to Bangladesh?
Oh wait, I just said normal!

Even if you transfer them to the West through a bank that is not under sanctions and is not disconnected from Swift, and pay for some European or American goods, you will have logistical problems with delivery.

But, but UnionPay!
Oh, again, I forgot, China said a big no thank you!
https://www.rbc.ru/newspaper/2022/04/21/625ffd519a7947196d66f36c

Therefore, dollars and euros in Russia are not particularly in demand now, and the ruble is growing.

Of course, that's why you're banning people from buying them..
Remember those times when one soviet ruble was 1.35 dollars and 0.10 on the black market? Tell me one difference between those times and now!

[be.open]

In Russia, you can buy non-cash dollars and euros in a bank or on a currency exchange, the question is why?

What about cash, like in any normal country, from Mexico to Japan from Nigeria to Bangladesh?
Oh wait, I just said normal!

Even if you transfer them to the West through a bank that is not under sanctions and is not disconnected from Swift, and pay for some European or American goods, you will have logistical problems with delivery.

But, but UnionPay!
Oh, again, I forgot, China said a big no thank you!
https://www.rbc.ru/newspaper/2022/04/21/625ffd519a7947196d66f36c

Therefore, dollars and euros in Russia are not particularly in demand now, and the ruble is growing.

Of course, that's why you're banning people from buying them..
Remember those times when one soviet ruble was 1.35 dollars and 0.10 on the black market? Tell me one difference between those times and now!

The import of cash dollars and euros into Russia was banned by Western sanctions, it seems, as early as the beginning of March. But even if you buy cash dollars and euros, the question is why? Previously, people bought to go to Europe to relax on vacation, and now they go to rest in the Crimea. Or to Turkey, but it seems they also willingly accept rubles there. Dollars and euros lost confidence in themselves in Russia, due to Western sanctions and the freezing of funds of the Central Bank of Russia.

[DrBeer]

Someone said russia is headed towards ruin and being outperformed by the united states economy.

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Meanwhile in the united states retailers are bracing for bad earnings reports due to inflation:

https://www.reuters.com/business/wall-st-week-ahead-retailers-set-earnings-stage-after-inflation-sparked-market-2021-05-14/

Evidence appears to suggest the US economy is weakening while the russian economy and its native currency is becoming stronger.

Where does this idea some have that russia's economy is doing poorly come from?

A simple question to the author - if you are so confident in the amazing performance of the ruble, and in general the prospects for the Russian economy, why are you not investing your assets in the ruble? Well, to be honest - having such insider information, such stability and guaranteed growth of the Russian economy, it is foolish not to use the information! Or is it so, for the soul information?

In general, people who give positive forecasts for the Russian economy and the ruble, for some reason, are in no hurry to invest there
Have you watched an interesting experiment in Russia? The presenter approaches the men on the street and asks the question - are you a patriot? What are you ready to do for Russia? Ready to fight against Ukraine. And they are like "yes, I'm ready right now, I'll kill everyone, I'll capture everything, we are the strongest, we have the best weapons, I'm not afraid of anyone." Well, Rimbaud. And the presenter says - ok, here we have a notebook here, give us your data, we will first of all call you up for military service. By the middle of the last sentence, exactly 100% of those who were "patriotic heroes" 10 seconds ago quickly quickly leave the interview site and do not respond to shouts and the question "where are you running away? We need to save our homeland!" The glorifiers of the growth of the Russian economy behave in the same way - they told a fairy tale and ran away from the Russian economy that is going to hell

[Sithara007]

Monthly volumes are now more than $4 billion, and this is one of the most significant challenges USD has faced till date in international trade.

You might want to check the euro-usd volume, it's not in months but days and not billions but trillions. Challenge my ass.
Oh btw, don't forget, one month has either 30 or 31 days if we exclude February, it never has 40!

I never said that the CNY-RUR volumes can be compared with EUR-USD volumes. If taken as a single bloc, European Union is the largest economy in the world and they conduct almost all of their trades in EUR-USD. That said, $4 billion per month is not a small amount. And more importantly, it is growing at an astounding pace. An increase of more than 10x is astonishingly high. And this comes after several rounds of failed attempts by the Chinese government to elevate the CNY to the position of global trade currency.

[stompix]

That said, $4 billion per month is not a small amount. And more importantly, it is growing at an astounding pace. An increase of more than 10x is astonishingly high. And this comes after several rounds of failed attempts by the Chinese government to elevate the CNY to the position of global trade currency.

You don't even realize how small that amount is.
I'm pretty sure you think this is some sort of balance for the good exports or imports, no it's not, otherwise, you wouldn't have it at half a billion a month while Chinese Russian exchanges were 10 billion a month in goods.
Those are fx, if you don't like the comparison with the largest trade block in the world, btw I do have to say I like you finally admit Russia is a tiny drop that doesn't matter, then go and look at the fx options on some other markets, choose the yen yuan pair for example or look at the overall moex exchange data, you will see that 300million is day is nothing! China and Australia have a swap agreement, again this is a swap agreement, so it means guaranteed fixed! rates agreed by both parties of 30 billion a year!

But even if you buy cash dollars and euros, the question is why?

Things like the freedom of doing whatever I want with my money, or stuff like that?
Oh, I forget, as previously said, this is rubletalk not bitcointalk! My mistake!

[be.open]

But even if you buy cash dollars and euros, the question is why?

Things like the freedom of doing whatever I want with my money, or stuff like that?

Do I understand correctly that you are now blaming the United States and the European Union for imposing sanctions on the import of cash dollars and euros into Russia, thereby limiting the freedom of Russians to buy them?

[stompix]

~

Do I understand correctly that you are now blaming the United States and the European Union for imposing sanctions on the import of cash dollars and euros into Russia, thereby limiting the freedom of Russians to buy them?

No, as always, you understand completely wrong. You know, my keys my coins!
I can deny you at any time to force me to exchange my BTC for ETH!

The US and the EU can deny Russia's central bank to use of their currencies because they don't want to let go of their money for garbage!
On the other hand, the CB of Russia is telling their people to not try to buy USD or EUR because they are not allowed, despite those rubles being their own money!

Think who has the keys in this analogy and understand who the one telling others they are not allowed to use their own money as they wish is here! Besides, this is not the USSR, you can't simply fake everything that happens in that country, I know even guys in telegram channels dedicated to mining are talking about how to get USD on the black market, or use yuans to swap it, so the fiat is there, is just that the government doesn't want you to get it.

For a guy who comes from a country that banned even this forum, I'm certainly amazed that you can't understand basic things while you still keep coming here daily, well, less for actually discussing bitcoin and more for Russian propaganda but I do somehow understand the desperation in some, I've seen it numerous times in the last 4 decades.

[be.open]

~

Do I understand correctly that you are now blaming the United States and the European Union for imposing sanctions on the import of cash dollars and euros into Russia, thereby limiting the freedom of Russians to buy them?

No, as always, you understand completely wrong. You know, my keys my coins!
I can deny you at any time to force me to exchange my BTC for ETH!

The US and the EU can deny Russia's central bank to use of their currencies because they don't want to let go of their money for garbage!
On the other hand, the CB of Russia is telling their people to not try to buy USD or EUR because they are not allowed, despite those rubles being their own money!

Think who has the keys in this analogy and understand who the one telling others they are not allowed to use their own money as they wish is here! Besides, this is not the USSR, you can't simply fake everything that happens in that country, I know even guys in telegram channels dedicated to mining are talking about how to get USD on the black market, or use yuans to swap it, so the fiat is there, is just that the government doesn't want you to get it.

For a guy who comes from a country that banned even this forum, I'm certainly amazed that you can't understand basic things while you still keep coming here daily, well, less for actually discussing bitcoin and more for Russian propaganda but I do somehow understand the desperation in some, I've seen it numerous times in the last 4 decades.

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.

What you are right about is that the dollar and the euro are now considered a scam in Russia.

[stompix]

What you are right about is that the dollar and the euro are now considered a scam in Russia.

So you're saying that if I go to the Russian subforum and offer to buy 1BTC for 35 000$ I will have no takers as everyone there will not be tempted by this "scam" currency? 
Again, I need to remind you what forum you're posting on!

[be.open]

What you are right about is that the dollar and the euro are now considered a scam in Russia.

So you're saying that if I go to the Russian subforum and offer to buy 1BTC for 35 000$ I will have no takers as everyone there will not be tempted by this "scam" currency? 
Again, I need to remind you what forum you're posting on!

Perhaps you will find someone who wants to make a deal, because there are a lot of fools and suckers in the world. In general, the Russian economy is making consistent efforts to abandon dollars and euros, switching to settlements in national currencies.

I remember which forum I'm posting on, look at my signature. Unlike you, I do it for free, and you cultivate your Russophobia and spread lies for money.

[justdimin]

So you're saying that if I go to the Russian subforum and offer to buy 1BTC for 35 000$ I will have no takers as everyone there will not be tempted by this "scam" currency? 
Again, I need to remind you what forum you're posting on!

Perhaps you will find someone who wants to make a deal, because there are a lot of fools and suckers in the world. In general, the Russian economy is making consistent efforts to abandon dollars and euros, switching to settlements in national currencies.

I remember which forum I'm posting on, look at my signature. Unlike you, I do it for free, and you cultivate your Russophobia and spread lies for money.

Fools and s**kers? Who made more than 5k? I am pretty sure who the fool would be in this story and it is not the Russian guy who just made 5+ thousand dollars, the minimum wage is around 120 dollars there by the way, so that 5+ thousand dollars profit means around 50 months worth of minimum wage in a single move.

You may think that euro and dollar is a "scam" if you want, just because you believe that to be the case doesn't mean that Russians as a whole believe the same thing and would say no to 50 months worth of minimum wage to be a bad deal, we here all know that is not the case, and you may be the only person who will deny the facts.

[DrBeer]

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

"Moscow. May 19. INTERFAX.RU - From May 20, 2022, the Central Bank of the Russian Federation allowed banks to sell any cash foreign currency to citizens without restrictions, except for US dollars and euros, the regulator said. Restrictions on the sale of cash dollars and euros remain."

Tell me - does the Central Bank give permission to banks in Russia or YOU? It seems to me that the Central Bank of the Russian Federation is trying to denigrate and frame you! Please tell him his place, I'm on your side!

[be.open]

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

"Moscow. May 19. INTERFAX.RU - From May 20, 2022, the Central Bank of the Russian Federation allowed banks to sell any cash foreign currency to citizens without restrictions, except for US dollars and euros, the regulator said. Restrictions on the sale of cash dollars and euros remain."

Tell me - does the Central Bank give permission to banks in Russia or YOU? It seems to me that the Central Bank of the Russian Federation is trying to denigrate and frame you! Please tell him his place, I'm on your side!

The nature of these restrictions on cash dollars and euros is EU and US sanctions on the import of cash into Russia, and not the desire of the Central Bank to somehow restrict Russian citizens from buying cash dollars and euros.

[el kaka22]

People in Russia do not see Dollar as "worthless", that is just a fake news and a lie to promote the "awesomeness" of Russia and nothing more. You need to realize that poor people of Russia are really poor and I mean like 100-150 bucks is not even the case, they make nearly nothing, because unemployment is a real problem.

So, people do believe the dollar is valuable, I live with bunch of Russians here where I live, people who ran away from Putin’s nation because they hate him, so believe me, Russia is not filled with people who are brainwashed. Sure there are plenty of those as well, but not all of them are like that, some see the reality.

[DrBeer]

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

"Moscow. May 19. INTERFAX.RU - From May 20, 2022, the Central Bank of the Russian Federation allowed banks to sell any cash foreign currency to citizens without restrictions, except for US dollars and euros, the regulator said. Restrictions on the sale of cash dollars and euros remain."

Tell me - does the Central Bank give permission to banks in Russia or YOU? It seems to me that the Central Bank of the Russian Federation is trying to denigrate and frame you! Please tell him his place, I'm on your side!

The nature of these restrictions on cash dollars and euros is EU and US sanctions on the import of cash into Russia, and not the desire of the Central Bank to somehow restrict Russian citizens from buying cash dollars and euros.

Dear forum member - either your account was hacked or you are at least 2 people 2 mutually exclusive answers from one person - gives reason to draw such conclusions

Did you write it or who?

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

[be.open]

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

"Moscow. May 19. INTERFAX.RU - From May 20, 2022, the Central Bank of the Russian Federation allowed banks to sell any cash foreign currency to citizens without restrictions, except for US dollars and euros, the regulator said. Restrictions on the sale of cash dollars and euros remain."

Tell me - does the Central Bank give permission to banks in Russia or YOU? It seems to me that the Central Bank of the Russian Federation is trying to denigrate and frame you! Please tell him his place, I'm on your side!

The nature of these restrictions on cash dollars and euros is EU and US sanctions on the import of cash into Russia, and not the desire of the Central Bank to somehow restrict Russian citizens from buying cash dollars and euros.

Dear forum member - either your account was hacked or you are at least 2 people 2 mutually exclusive answers from one person - gives reason to draw such conclusions

Did you write it or who?

This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia.

So, from May 20, the Central Bank of Russia removed all restrictions on the purchase by citizens of foreign currency in cash, except for dollars and euros. For dollars and euros, there are restrictions related to US and EU sanctions on the import of cash into Russia - you can buy cash dollars and euros that were deposited at bank cash desks after April 9, 2022. I hope now I have clarified the situation and eliminated the contradictions that existed in your consciousness, but not in reality.

[buwaytress]

The import of cash dollars and euros into Russia was banned by Western sanctions, it seems, as early as the beginning of March. But even if you buy cash dollars and euros, the question is why?

Er, why? Even before I went to Europe, dollars and euros and even pound sterling, are more readily accepted in my corner of the world.

I have visited several non-EU, former USSR members in the past few years... and the only "Russian" thing they'll accept there is the language and the script. I did see an app accepting ruble in Kazakhstan though but that was for the Russians to use their card to pay. Russians there changed rubles at moneychangers. These places are way cheaper than Europe, including Ukraine.

First time I've heard Turkey accepting rubles... you're talking merchants and shop owners or? Any of these guys have an online shop accepting ruble?

[be.open]

The import of cash dollars and euros into Russia was banned by Western sanctions, it seems, as early as the beginning of March. But even if you buy cash dollars and euros, the question is why?

Er, why? Even before I went to Europe, dollars and euros and even pound sterling, are more readily accepted in my corner of the world.

I have visited several non-EU, former USSR members in the past few years... and the only "Russian" thing they'll accept there is the language and the script. I did see an app accepting ruble in Kazakhstan though but that was for the Russians to use their card to pay. Russians there changed rubles at moneychangers. These places are way cheaper than Europe, including Ukraine.

First time I've heard Turkey accepting rubles... you're talking merchants and shop owners or? Any of these guys have an online shop accepting ruble?

Now there is a very large surge of Russophobia in Europe, and the European Union may not expect Russian tourists this season. And this is the main purpose for buying cash euros, now it is gone. For the dollar, the forecast is more favorable, for historical reasons, Russians love cash dollars. However, keeping savings in cash dollars is now stupid because of high inflation, and Russians now have nowhere to spend them.

[DrBeer]

So, from May 20, the Central Bank of Russia removed all restrictions on the purchase by citizens of foreign currency in cash, except for dollars and euros. For dollars and euros, there are restrictions related to US and EU sanctions on the import of cash into Russia - you can buy cash dollars and euros that were deposited at bank cash desks after April 9, 2022. I hope now I have clarified the situation and eliminated the contradictions that existed in your consciousness, but not in reality.

"This is not true, the Central Bank of Russia does not prohibit the sale or purchase of dollars and euros, currently there are no such restrictions in Russia. Restrictions on the import of cash currency exist on the part of the United States and the European Union.
What you are right about is that the dollar and the euro are now considered a scam in Russia." - Do not fill, whose words are these?

Yeah, i.e. dollar and euro are fake currencies. And without them, Russians live happily with a non-fake ruble (  ) But they decided to work and trade with fake currencies, since everyone needs them?! You have excellent logic and the most objective information, and what is very important - absolutely not contradictory

[stompix]

What you are right about is that the dollar and the euro are now considered a scam in Russia.

For the dollar, the forecast is more favorable, for historical reasons, Russians love cash dollars.

Yeah right, every day changing the scenario, it's banned because they don't like it, it's banned because they like it too much, it is banned because they don't have euros and dollars, let's go on a different topic and Russia swims in euros and dollars because of oil exports, changing the narrative as the propaganda requires.

The mess the CB has done trying to prop the currency, create a bulletproof capital control and restrict money flow has led to some hilarious situations that remind us of the start of the Venezuelan crisis, probing the ruble artificially too much leads the merchants to demand the equivalent price in the actual exchange rate, not the one authorities claims so you end up with imported goods, despite being from outside western Europe being the most expensive in the worlds:
https://newsfounded.com/russia/today-russia-has-the-most-expensive-car-in-the-world-list-of-evidence-autonews/

Nissan Qashqai
Price in Russia: 39,697 euros
Price in Germany: € 24,831
Price in US: $ 24,760 (€ 23,077)

This is because well, nobody gives a damn about the fake rate, and every merchant puts the price at the real rate they would get euros for rubles, this is a somewhat twisted version of the PPP indicator but with these prices, you can actually calculate the real rate of the ruble.

Er, why? Even before I went to Europe, dollars and euros and even pound sterling, are more readily accepted in my corner of the world.

Usually, the more hated the US is in one country the more liked the dollar is, as a European it's a real slap on the face going to a completely non us friendly country and seeing everyone accepting dollars but not euros and the hotel owner telling you how they love Europe...

[DrBeer]

What you are right about is that the dollar and the euro are now considered a scam in Russia.

For the dollar, the forecast is more favorable, for historical reasons, Russians love cash dollars.

Yeah right, every day changing the scenario, it's banned because they don't like it, it's banned because they like it too much, it is banned because they don't have euros and dollars, let's go on a different topic and Russia swims in euros and dollars because of oil exports, changing the narrative as the propaganda requires.

The mess the CB has done trying to prop the currency, create a bulletproof capital control and restrict money flow has led to some hilarious situations that remind us of the start of the Venezuelan crisis, probing the ruble artificially too much leads the merchants to demand the equivalent price in the actual exchange rate, not the one authorities claims so you end up with imported goods, despite being from outside western Europe being the most expensive in the worlds:
https://newsfounded.com/russia/today-russia-has-the-most-expensive-car-in-the-world-list-of-evidence-autonews/

Nissan Qashqai
Price in Russia: 39,697 euros
Price in Germany: € 24,831
Price in US: $ 24,760 (€ 23,077)

This is because well, nobody gives a damn about the fake rate, and every merchant puts the price at the real rate they would get euros for rubles, this is a somewhat twisted version of the PPP indicator but with these prices, you can actually calculate the real rate of the ruble.

Er, why? Even before I went to Europe, dollars and euros and even pound sterling, are more readily accepted in my corner of the world.

Usually, the more hated the US is in one country the more liked the dollar is, as a European it's a real slap on the face going to a completely non us friendly country and seeing everyone accepting dollars but not euros and the hotel owner telling you how they love Europe...

It was always funny to watch the Western haters who, with great joy, stuffed “unsecured dollars” and “fake euros” into their pockets. Moreover, in 99% of cases, they were stored in those very Western banks, and there, for a calm and comfortable life, all these Western-haters bought real estate, businesses, taught children there ... But they always told their people how bad it is to live there, what it is degradation, and other sins at every turn! But as soon as they begin to take away their illegally acquired property, or expel their children or wives to the "holy homeland", such squeals and hysterics begin, resentment that he was deprived of the opportunity to live "in the most sinful west"!

[be.open]

It was always funny to watch the Western haters who, with great joy, stuffed “unsecured dollars” and “fake euros” into their pockets. Moreover, in 99% of cases, they were stored in those very Western banks, and there, for a calm and comfortable life, all these Western-haters bought real estate, businesses, taught children there ... But they always told their people how bad it is to live there, what it is degradation, and other sins at every turn! But as soon as they begin to take away their illegally acquired property, or expel their children or wives to the "holy homeland", such squeals and hysterics begin, resentment that he was deprived of the opportunity to live "in the most sinful west"!

This is the huge positive effect of Western sanctions on Russia, which alone outweighs the many negative side effects. Paradoxically, sanctions hit hardest of all not ordinary Russians, but oligarchs, fifth-column liberals, and the duplicitous hypocrites you speak of.

[DrBeer]

It was always funny to watch the Western haters who, with great joy, stuffed “unsecured dollars” and “fake euros” into their pockets. Moreover, in 99% of cases, they were stored in those very Western banks, and there, for a calm and comfortable life, all these Western-haters bought real estate, businesses, taught children there ... But they always told their people how bad it is to live there, what it is degradation, and other sins at every turn! But as soon as they begin to take away their illegally acquired property, or expel their children or wives to the "holy homeland", such squeals and hysterics begin, resentment that he was deprived of the opportunity to live "in the most sinful west"!

This is the huge positive effect of Western sanctions on Russia, which alone outweighs the many negative side effects. Paradoxically, sanctions hit hardest of all not ordinary Russians, but oligarchs, fifth-column liberals, and the duplicitous hypocrites you speak of.

 

And tell me, do you seriously think that by repeating propaganda slogans, denying the real picture of global changes, everything will be fine in your country? No, it will not ! There is an ancient saying - no matter how much you say halva, it will not become sweet in your mouth. So are you, cyclically repeating propaganda slogans, I hope that you will not be touched by the total problems approaching Russia. But I’ll give you credit, at least you don’t just copy-paste “from manuals”, you translate these slogans into your own words, and even dilute them with additional information. True, from the same propaganda sources, but believe me, against the background of 99% of primitive repeaters of the "spells" of Putin's nonsense, you look much better! Yes, and thank you - each of your answers (unless, of course, you pretend that you didn’t notice the question for which there are no blanks in the training manuals), this is a reason to smile, I really like it, it’s very cool

Speaking of sanctions, let me once again remind you of the question - if everything is so fine, why in Russia, at every opportunity, are they trying to persuade the West to lift sanctions? A conspiracy of the Kremlin's enemies of Russia?
And another question - since everything is so beautiful, what are the reasons for these two facts:
- the recently adopted law, which allows Putin to single-handedly manage the deposits of the population, at his own discretion, including freezing "and other measures." What does the seizure "for the good of the motherland" mean, though it is not openly spoken about, but other measures are hidden behind the phrase ""? By the way, do you have savings that are in banks?
- 80% of Russians started saving in the spring of 2022. Most of the respondents said that they are trying to save on everything (44%), some even on food, follows from a survey by the Zarplata.ru service. The main reason for savings 61% of respondents named the increase in prices. But you obviously don’t fall into these 80% of losers, did I guess correctly?

[be.open]

And tell me, do you seriously think that by repeating propaganda slogans, denying the real picture of global changes, everything will be fine in your country? No, it will not ! There is an ancient saying - no matter how much you say halva, it will not become sweet in your mouth. So are you, cyclically repeating propaganda slogans, I hope that you will not be touched by the total problems approaching Russia. But I’ll give you credit, at least you don’t just copy-paste “from manuals”, you translate these slogans into your own words, and even dilute them with additional information. True, from the same propaganda sources, but believe me, against the background of 99% of primitive repeaters of the "spells" of Putin's nonsense, you look much better! Yes, and thank you - each of your answers (unless, of course, you pretend that you didn’t notice the question for which there are no blanks in the training manuals), this is a reason to smile, I really like it, it’s very cool

I seriously think that everything is fine in Russia even now. You can always do something better, but this is not a reason to indiscriminately deny existing achievements. Thanks for the kind words.

Speaking of sanctions, let me once again remind you of the question - if everything is so fine, why in Russia, at every opportunity, are they trying to persuade the West to lift sanctions? A conspiracy of the Kremlin's enemies of Russia?

The world has been inspired by the ideas of globalization for quite a long time, and as a result, the world economy turned out to be saturated with interdependencies, many of which are hidden and not obvious, and their influence is fully manifested only at the moment of rupture of ties. In general, Russia is doing well, with little debt, a chronic budget surplus, food security, an abundance of energy resources and a colossal surplus of raw materials - all this allows us to look to the future with confidence. The West underestimated the influence of Russia on the world economy, if you look at the extractive industries and subtract all sorts of inedible futures and services, you will get Russia's share in the world economy not 1.5%, but at least 6.5% (or even all 10%). And if Western sanctions threaten Russia with the speed of sustainable development, they put the West itself on the brink of existence. I will illustrate the idea with a fresh example. The other day, Canada refused to return a Siemens turbine to Gazprom from repair due to sanctions, and Gazprom had to reduce gas transmission through Nord Stream by two thirds, which caused the price of gas to rise by 25%. It turns out that the sanctions were imposed against Russia, and it is Europe that suffers from them first of all. Moreover, the United States introduces sanctions against Russia very selectively and often cancels it if it becomes unprofitable for it. I think that Biden and Putin agreed during the meeting last year how to divide Europe. Europe in this story is definitely a trophy and a victim, it pays for everything.

And another question - since everything is so beautiful, what are the reasons for these two facts:
- the recently adopted law, which allows Putin to single-handedly manage the deposits of the population, at his own discretion, including freezing "and other measures." What does the seizure "for the good of the motherland" mean, though it is not openly spoken about, but other measures are hidden behind the phrase ""? By the way, do you have savings that are in banks?

Difficult to answer, I don't know what kind of law you mean, please clarify. I don't keep large savings in a bank deposit.

- 80% of Russians started saving in the spring of 2022. Most of the respondents said that they are trying to save on everything (44%), some even on food, follows from a survey by the Zarplata.ru service. The main reason for savings 61% of respondents named the increase in prices. But you obviously don’t fall into these 80% of losers, did I guess correctly?

My financial situation has known better times than today. But I take this calmly, during the sanctions in 2014 after the annexation of Crimea, it was much worse, during the crypto winter in 2018-19, perhaps, too. I do not make of consumption a religion or a cult.

[DrBeer]

I seriously think that everything is fine in Russia even now. You can always do something better, but this is not a reason to indiscriminately deny existing achievements. Thanks for the kind words.
...
My financial situation has known better times than today. But I take this calmly, during the sanctions in 2014 after the annexation of Crimea, it was much worse, during the crypto winter in 2018-19, perhaps, too. I do not make of consumption a religion or a cult.

I will be extremely brief - if what you NOW call "good", then I'm even scared to imagine what happened to you and your country before today's period
Now it becomes absolutely clear why you do not trust the Russian banking system ("I do not keep large savings in a bank deposit.")

"during the sanctions of 2014 after the annexation of Crimea, it was much worse" but this is generally interesting! I.e. actually absent sanctions gave a very negative result, and total sanctions - you only feel better? Excuse me - you are either lying or delusional ... Although stop .. There is another option - you just never saw what it is to live well
I don’t want to offend you, honestly, no offense, it’s just that this phrase is absolutely open illogicality or lies.

[be.open]

I will be extremely brief - if what you NOW call "good", then I'm even scared to imagine what happened to you and your country before today's period
Now it becomes absolutely clear why you do not trust the Russian banking system ("I do not keep large savings in a bank deposit.")

I do not trust the banking system, not because it is Russian, but because it is a banking system. That's why I'm here.

"during the sanctions of 2014 after the annexation of Crimea, it was much worse" but this is generally interesting! I.e. actually absent sanctions gave a very negative result, and total sanctions - you only feel better? Excuse me - you are either lying or delusional ... Although stop .. There is another option - you just never saw what it is to live well
I don’t want to offend you, honestly, no offense, it’s just that this phrase is absolutely open illogicality or lies.

The sanctions of 2014 immediately halved the exchange rate of the ruble against the dollar and, accordingly, many goods also doubled in price, and the ruble exchange rate never returned back then, unlike the events of this spring. Therefore, every Russian painfully felt the sanctions of 2014 on his pocket. Now the ruble exchange rate has again fallen by half at first, but then quickly recovered to its original level and even better, so the impact of sanctions is much less noticeable.

Maybe in response you will share your impressions of how to live in a bankrupt country with an economy paralyzed by military operations, with a halved GDP, devaluation of the hryvnia and a key rate of 25%, which makes any commercial activity impossible except for short-term speculation? What is it like to be completely dependent on subsidies and handouts from the West?

[Ozero]

In my opinion, the Russians cannot rejoice at the strong ruble now. Let's see what they say about this in Russia itself.
"In fact, the inadequately high exchange rate of the ruble has a very negative impact on the Russian economy, which has been crippled by sanctions." This statement was made on the air of the federal TV channel "Russia 24" by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov. The head of the Ministry of Economic Development said that the ruble "excessively strengthened" and called it a challenge for the Russian economy. "It creates a problem for both our exporters and importers," Reshetnikov told the Russians. He clarified that the ruble strengthened not "from a good life." This is the result of a sharp drop in demand for the currency in the country (primarily for the dollar and the euro). The minister called on the Central Bank of the Russian Federation to take urgent measures to weaken the national currency.

Today in Russia the dollar is traded at the rate of 55.8 rubles. True, it is almost impossible to buy it - there is no currency in banks, and speculators sell it much more expensive. In a healthy economy, the strengthening of the national currency is a sign of growth. However, in the case of Russia, this is evidence of "paralysis".
In fact, there is a currency in the Russian economy, but it is not in demand by either business or the population. Moreover, the population, perhaps, would like to acquire cheaper dollars and euros, but this opportunity was blocked by the authorities.
Plus, the Central Bank limited $10,000 per month to the possibility of withdrawing foreign currency abroad.

"A strong ruble in the current situation does not indicate the absence of systemic problems in the Russian economy. Moreover, it is more likely to become a very serious problem than a victory for the country's monetary policy. However, the reason for the strengthening of the ruble is actually artificial and is a consequence of the policy of the Russian central bank. There is only one reason for the strengthening of the ruble - a significant surplus in the country's balance of payments," Delo said in a comment. ua Chairman of the Board of Unex Bank Ivan Svitek.
"Measures taken by the Russian Central Bank back in February-March actually blocked the possibility of capital withdrawal from the country by foreign investors and significantly limited such opportunities for the population," the head of Unex stressed. "For example, now citizens of the Russian Federation are allowed to transfer no more than $10,000 a month abroad. Withdrawals of cash from accounts are limited. The ruble is not currently a freely convertible currency."

Somewhere towards the end of the year, we will see what will happen to the Russian ruble. And this will only be the beginning.

[Sithara007]

For the last two weeks or so, the Ruble has remained at levels of 55-60 against the USD. And this is not beneficial for the Russians at all. Now a large part of the hydrocarbon trade has moved to RUR and the increased strength of the national currency means that the Russian government will be receiving less Rubles from the export duty and mineral extraction tax (MET). That said, I don't understand why the finance ministry is not taking steps to devalue the Ruble. Doing so is much easier, when compared to strengthening the currency. As of now, everyone is losing out, including the wheat farmers, coal miners and oil companies. 

[be.open]

For the last two weeks or so, the Ruble has remained at levels of 55-60 against the USD. And this is not beneficial for the Russians at all. Now a large part of the hydrocarbon trade has moved to RUR and the increased strength of the national currency means that the Russian government will be receiving less Rubles from the export duty and mineral extraction tax (MET). That said, I don't understand why the finance ministry is not taking steps to devalue the Ruble. Doing so is much easier, when compared to strengthening the currency. As of now, everyone is losing out, including the wheat farmers, coal miners and oil companies. 

The US dollar is experiencing problems with inflation, that is, it is getting cheaper. The world's leading currencies, such as the euro, pound and yen, are depreciating against the dollar, that is, they are depreciating even more. It seems that the world economy can now be characterized by the words recession and stagflation. Russia is watching the ongoing processes, but does not seek to fall into this abyss along with everyone else, so the Central Bank of Russia does not make efforts to devalue the ruble, even if it is unprofitable for exporters. It is more important to maintain the stability of the domestic market and prevent devaluation shocks for the population. Russia has a huge margin of safety due to the National Welfare Fund and many years of living with a budget surplus. Let the dollar fall - the ruble will not fall even faster, but rather will strengthen, I expect a return to the level before 2014, when the dollar was worth 30-35 rubles.

[Pomogator]

Understand that the ruble has become the most growing currency because before that it was the most unstable and fallen. Of course, no one expected just such a growth, but the competent actions of Russian economists gave a very good result.

[Ucy]

Understand that the ruble has become the most growing currency because before that it was the most unstable and fallen. Of course, no one expected just such a growth, but the competent actions of Russian economists gave a very good result.

I doubt they have any idea what you are talking about.   Referring to the bolded

[laredo7mm]

For the last two weeks or so, the Ruble has remained at levels of 55-60 against the USD. And this is not beneficial for the Russians at all. Now a large part of the hydrocarbon trade has moved to RUR and the increased strength of the national currency means that the Russian government will be receiving less Rubles from the export duty and mineral extraction tax (MET). That said, I don't understand why the finance ministry is not taking steps to devalue the Ruble. Doing so is much easier, when compared to strengthening the currency. As of now, everyone is losing out, including the wheat farmers, coal miners and oil companies. 

The US dollar is experiencing problems with inflation, that is, it is getting cheaper. The world's leading currencies, such as the euro, pound and yen, are depreciating against the dollar, that is, they are depreciating even more. It seems that the world economy can now be characterized by the words recession and stagflation. Russia is watching the ongoing processes, but does not seek to fall into this abyss along with everyone else, so the Central Bank of Russia does not make efforts to devalue the ruble, even if it is unprofitable for exporters. It is more important to maintain the stability of the domestic market and prevent devaluation shocks for the population. Russia has a huge margin of safety due to the National Welfare Fund and many years of living with a budget surplus. Let the dollar fall - the ruble will not fall even faster, but rather will strengthen, I expect a return to the level before 2014, when the dollar was worth 30-35 rubles.

Though Putin's gamble looks like a decisive win against the westerners the more important thing is to maintain this economic growth and stability. I am not sure the ruble could go that far but if it can maintain its current position in these situations then this could be a game-changing situation for the Russian economy.

USD is falling and it seems every plan has failed to revive it.

[Naficopa]

Though Putin's gamble looks like a decisive win against the westerners the more important thing is to maintain this economic growth and stability. I am not sure the ruble could go that far but if it can maintain its current position in these situations then this could be a game-changing situation for the Russian economy.

USD is falling and it seems every plan has failed to revive it.

There is an end to everything. USA tries to control the whole world. They think whatever they say - the world should follow them.
But Russia stood alone and Russia is going to tell the whole world that they are not going to let anyone impose orders over them

[DrBeer]

I will be extremely brief - if what you NOW call "good", then I'm even scared to imagine what happened to you and your country before today's period
Now it becomes absolutely clear why you do not trust the Russian banking system ("I do not keep large savings in a bank deposit.")

I do not trust the banking system, not because it is Russian, but because it is a banking system. That's why I'm here.

"during the sanctions of 2014 after the annexation of Crimea, it was much worse" but this is generally interesting! I.e. actually absent sanctions gave a very negative result, and total sanctions - you only feel better? Excuse me - you are either lying or delusional ... Although stop .. There is another option - you just never saw what it is to live well
I don’t want to offend you, honestly, no offense, it’s just that this phrase is absolutely open illogicality or lies.

The sanctions of 2014 immediately halved the exchange rate of the ruble against the dollar and, accordingly, many goods also doubled in price, and the ruble exchange rate never returned back then, unlike the events of this spring. Therefore, every Russian painfully felt the sanctions of 2014 on his pocket. Now the ruble exchange rate has again fallen by half at first, but then quickly recovered to its original level and even better, so the impact of sanctions is much less noticeable.

Maybe in response you will share your impressions of how to live in a bankrupt country with an economy paralyzed by military operations, with a halved GDP, devaluation of the hryvnia and a key rate of 25%, which makes any commercial activity impossible except for short-term speculation? What is it like to be completely dependent on subsidies and handouts from the West?

So it turns out that sanctions, even those primitive ones, gave such a tangible blow to the economy and the standard of living of ordinary Russians? So all these clowns who squealed "don't make our Iskanders laugh" and "sanctions are only good" are liars?! Maybe Putin is also lying that a cheap ruble is just a salvation for Russia? Oh, you are in the heat of the moment and forget about propaganda and narratives to calm the masses in Russia! See that they do not sit down under the article "for insulting the feelings of believers to Putin." Here for you anonymity is really necessary and critically important

"Maybe in response you will share your impressions of how to live in a bankrupt country with an economy paralyzed by military operations, with a halved GDP, devaluation of the hryvnia and a key rate of 25%, which makes any commercial activity impossible except for short-term speculation? What is it like to be completely dependent on subsidies and handouts from the West?" - I would be happy to answer the question in essence, but of course I will not answer propaganda nonsense, at least in the formulation of the question. The provocation failed, demand an update of the "manual"

Although ... very briefly, and in your key life values, I will answer in your own style "I live happily, I have 1 GB of Internet for $ 8, and tap water, and taxis are inexpensive, which I may not like if everything is like that wonderful !"

PS We'll talk about handouts in a year or two, when you next time beg from "hated America" ​​for chicken legs, in the new "Biden's Legs" ))

[Sithara007]

The US dollar is experiencing problems with inflation, that is, it is getting cheaper. The world's leading currencies, such as the euro, pound and yen, are depreciating against the dollar, that is, they are depreciating even more. It seems that the world economy can now be characterized by the words recession and stagflation. Russia is watching the ongoing processes, but does not seek to fall into this abyss along with everyone else, so the Central Bank of Russia does not make efforts to devalue the ruble, even if it is unprofitable for exporters. It is more important to maintain the stability of the domestic market and prevent devaluation shocks for the population. Russia has a huge margin of safety due to the National Welfare Fund and many years of living with a budget surplus. Let the dollar fall - the ruble will not fall even faster, but rather will strengthen, I expect a return to the level before 2014, when the dollar was worth 30-35 rubles.

Don't know if I can agree to this. In case the national currency gets devalued, then I believe that it is still manageable. Imports will get reduced, since they become more expensive, but for the exporters it will be beneficial. EMIs will go up and that will cause trouble for those who have taken the bank loans. citizens will be happy, as they get more returns from their term deposits. On the other hand, if the exchange rate gets strengthened, it will destroy the exporters. A lot of people may lose job. Farmers will be hit hard, as they need to sell their produce at a loss (especially wheat, sunflower oil.etc). On top of all this, the trade deficit will widen.

[be.open]

The US dollar is experiencing problems with inflation, that is, it is getting cheaper. The world's leading currencies, such as the euro, pound and yen, are depreciating against the dollar, that is, they are depreciating even more. It seems that the world economy can now be characterized by the words recession and stagflation. Russia is watching the ongoing processes, but does not seek to fall into this abyss along with everyone else, so the Central Bank of Russia does not make efforts to devalue the ruble, even if it is unprofitable for exporters. It is more important to maintain the stability of the domestic market and prevent devaluation shocks for the population. Russia has a huge margin of safety due to the National Welfare Fund and many years of living with a budget surplus. Let the dollar fall - the ruble will not fall even faster, but rather will strengthen, I expect a return to the level before 2014, when the dollar was worth 30-35 rubles.

Don't know if I can agree to this. In case the national currency gets devalued, then I believe that it is still manageable. Imports will get reduced, since they become more expensive, but for the exporters it will be beneficial. EMIs will go up and that will cause trouble for those who have taken the bank loans. citizens will be happy, as they get more returns from their term deposits. On the other hand, if the exchange rate gets strengthened, it will destroy the exporters. A lot of people may lose job. Farmers will be hit hard, as they need to sell their produce at a loss (especially wheat, sunflower oil.etc). On top of all this, the trade deficit will widen.

Right now, Russia is at a very interesting historical crossroads. Figuratively speaking, she needs to make a very difficult choice between two different paths of development, one of which is "easy" and the other is "right". The "easy" way is to continue to be a raw materials appendage and a gas station country, reorienting logistics routes from West to East. The "right" way is to block all the ways of capital outflow from the country to focus on internal development. Of course, this division is figurative, these two paths are largely intertwined and one does not exclude the other, it is more a matter of prioritization. But in many ways, it is the internal policy of the regulator in relation to the ruble exchange rate that will be a reliable indicator of which path Russia has chosen as its main priority.

[DrBeer]

USD is falling and it seems every plan has failed to revive it.

USD is falling and it seems every plan has failed to revive it.

The US has several mechanisms:
- A printing press to buy everything they need for plain paper
- Largest economy
- Largest consumer market
- A huge amount of really advanced technologies that are needed around the world.
- The largest military-industrial complex, which will now begin to work at full capacity, which will stabilize the economy.

So you don't have to worry about them. Temporary problems, due to the outbreak of fascism-rashism, will now affect absolutely everyone, and everyone will have to endure a little, and look at what happens when fascism is allowed to raise its head. A sort of painful, but inoculation for the future!

[Sithara007]

Right now, Russia is at a very interesting historical crossroads. Figuratively speaking, she needs to make a very difficult choice between two different paths of development, one of which is "easy" and the other is "right". The "easy" way is to continue to be a raw materials appendage and a gas station country, reorienting logistics routes from West to East. The "right" way is to block all the ways of capital outflow from the country to focus on internal development. Of course, this division is figurative, these two paths are largely intertwined and one does not exclude the other, it is more a matter of prioritization. But in many ways, it is the internal policy of the regulator in relation to the ruble exchange rate that will be a reliable indicator of which path Russia has chosen as its main priority.

Well.. I understand your viewpoint. But there are risks associated with the "right" option. Exporting raw materials and energy products is less risky, because there is growing demand across the globe and the prices doesn't vary from country to country. But using these materials to set up manufacturing units and then to export the finished products requires a lot of technological advancement as well as heavy investment. For example, both Germany and Japan use Russian gas to power the manufacturing units that produce automobiles and heavy engineering equipment. For Russia to manufacture these products at home is not easy. To build up the brand name and reputation alone, it will take many decades.

[be.open]

Right now, Russia is at a very interesting historical crossroads. Figuratively speaking, she needs to make a very difficult choice between two different paths of development, one of which is "easy" and the other is "right". The "easy" way is to continue to be a raw materials appendage and a gas station country, reorienting logistics routes from West to East. The "right" way is to block all the ways of capital outflow from the country to focus on internal development. Of course, this division is figurative, these two paths are largely intertwined and one does not exclude the other, it is more a matter of prioritization. But in many ways, it is the internal policy of the regulator in relation to the ruble exchange rate that will be a reliable indicator of which path Russia has chosen as its main priority.

Well.. I understand your viewpoint. But there are risks associated with the "right" option. Exporting raw materials and energy products is less risky, because there is growing demand across the globe and the prices doesn't vary from country to country. But using these materials to set up manufacturing units and then to export the finished products requires a lot of technological advancement as well as heavy investment. For example, both Germany and Japan use Russian gas to power the manufacturing units that produce automobiles and heavy engineering equipment. For Russia to manufacture these products at home is not easy. To build up the brand name and reputation alone, it will take many decades.

You are right, it is risky. But right now, Russia has an amazing window of opportunity to realize this. And it did not open on its own, Putin opened it with his pre-emptive invasion of Ukraine, which triggered Western economic sanctions and a mass exodus of Western companies from Russia, which themselves voluntarily freed the huge Russian market from their presence, creating favorable conditions for a large-scale transformation of Russia. I am not a big fan of Putin, but I truly admire the beauty of his strategy and the scope of his ambitions. It would have been much easier and safer to wait for Ukraine's invasion of the Donbass - and Russia would still have won, albeit with much greater human losses, but there would not have been this condemning pressure from the West on Russia, thanks to which Russia had a real chance for a painful transformation from another one country of the third world into the unifying power of the locomotive of the largest continent (which, by right of its birth and geographical location, it is). Let's see, Putin's speech yesterday at the economic forum in St. Petersburg gives a chance to hope that Russia will choose not the easy path of its development, but the right one.

[galambo]

...

..

Its war of ego now for Russia as they are struck but withdrawing means here they are acceping USA victory which is unacceptable thing. Though media is fully under the control of USA and West, so we cant say with certainty that whats going on in Ukraine. Russian rubble is at its peak these days which is an indication that Russia has over come economic war with USA and its allies.     

[Freeesta]

(Bloomberg) -- Capital controls imposed by Russia have turned the ruble into the world’s best performing currency this year, though not many people can pocket a profit on the rally.



image link:  https://i.ibb.co/TtBp8hY/russian-ruble.jpg

The ruble resumed its advance against the dollar on Wednesday as the Moscow Exchange reopened after two days of public holiday. It’s now up more than 11% against the US dollar since the start of the year, surpassing the real’s 9% advance to become the top gainer among 31 major currencies tracked by Bloomberg. The offshore rate is up even more, about 12%.

The ruble’s gains result from a series of measures taken by the government to defend the battered currency in the aftermath of Western sanctions. On top of imposing capital controls, Russia has forced exporters to sell foreign-exchange and is demanding its natural gas be paid for in rubles. Strategists say the rally isn’t credible as many currency-trading shops have stopped dealing in the ruble on the grounds that its value seen on monitors is not the price it can be traded at in the real world.

Still, the irony of the ruble performing so well while at war is remarkable, especially as other countries that imposed capital controls in the recent past have not achieved the same results. Turkey and Argentina tried similar measures when they faced a horde of sellers in the past few years with disastrous consequences for the lira and the peso, which reached fresh all-time lows and never recovered.

The ruble took over from the real as the world’s best performer as the end looms for Brazil’s monetary tightening, which is weighing on the currency. After raising the benchmark rate by 1,075 basis points since early 2021, policy makers in the Latin American nation have signaled a slowdown in the pace of hiking, as well as their intention to wrap up the cycle soon. While the real’s carry will remain high, the spread to US rates will likely shrink as the Federal Reserve keeps raising borrowing costs at an aggressive pace.



https://finance.yahoo.com/news/ruble-surpasses-brazil-real-best-162446964.html

....


Someone said russia is headed towards ruin and being outperformed by the united states economy.

At the moment, the russian ruble is up 11% versus the US dollar and rated the #1 performing currency of the year.

Meanwhile in the united states retailers are bracing for bad earnings reports due to inflation:

https://www.reuters.com/business/wall-st-week-ahead-retailers-set-earnings-stage-after-inflation-sparked-market-2021-05-14/

Evidence appears to suggest the US economy is weakening while the russian economy and its native currency is becoming stronger.

Where does this idea some have that russia's economy is doing poorly come from?

The ruble has indeed strengthened and continues to do so in the future. But this is not good for the country's economy. I think that the ruble exchange rate will be adjusted to a comfortable level. Anti-Russian sanctions had a positive impact on the ruble exchange rate, although no one could have expected this. The inflation rate has decreased in the country and this is a very good indicator for the economy. This is interesting for ordinary people, no one wants to change their usual way of life.

[laredo7mm]

USD is falling and it seems every plan has failed to revive it.

USD is falling and it seems every plan has failed to revive it.

The US has several mechanisms:
- A printing press to buy everything they need for plain paper
- Largest economy
- Largest consumer market
- A huge amount of really advanced technologies that are needed around the world.
- The largest military-industrial complex, which will now begin to work at full capacity, which will stabilize the economy.

So you don't have to worry about them. Temporary problems, due to the outbreak of fascism-rashism, will now affect absolutely everyone, and everyone will have to endure a little, and look at what happens when fascism is allowed to raise its head. A sort of painful, but inoculation for the future!

I have nothing to worry about but the USA has. The higher the inflation will be the more other countries will try to reduce the use of USD for international trade. This number is already reducing. Once more than 70% of international trade was done by USD but now this number is below 40% I think.

If you keep the USA economy aside then what you will say about the increasing number of gun violence in America? This country is falling apart from the inside and the fall of the USD will be the last nail into its coffin.

[Sithara007]

You are right, it is risky. But right now, Russia has an amazing window of opportunity to realize this. And it did not open on its own, Putin opened it with his pre-emptive invasion of Ukraine, which triggered Western economic sanctions and a mass exodus of Western companies from Russia, which themselves voluntarily freed the huge Russian market from their presence, creating favorable conditions for a large-scale transformation of Russia. I am not a big fan of Putin, but I truly admire the beauty of his strategy and the scope of his ambitions. It would have been much easier and safer to wait for Ukraine's invasion of the Donbass - and Russia would still have won, albeit with much greater human losses, but there would not have been this condemning pressure from the West on Russia, thanks to which Russia had a real chance for a painful transformation from another one country of the third world into the unifying power of the locomotive of the largest continent (which, by right of its birth and geographical location, it is). Let's see, Putin's speech yesterday at the economic forum in St. Petersburg gives a chance to hope that Russia will choose not the easy path of its development, but the right one.

I never expected the Russian economy to be this resilient. As of now, Russia is the most sanctioned country in the world. When the first set of sanctions were introduced, media channels such as CNN and BBC were predicting a complete economic meltdown in a matter of weeks, if not days. The initial indications were in that direction. The Russian Ruble exchange rate plummeted from around 70 to 140, and the stock markets collapsed completely. But then some miracle happened, and in the next few months all these loses were reversed. I regularly check the Western media, and they still publish all sort of scare stories about the Russian economy. But no one can deny the fact that the government did an amazing job to avert an economic meltdown.

[galambo]

I never expected the Russian economy to be this resilient. As of now, Russia is the most sanctioned country in the world. When the first set of sanctions were introduced, media channels such as CNN and BBC were predicting a complete economic meltdown in a matter of weeks, if not days. The initial indications were in that direction. The Russian Ruble exchange rate plummeted from around 70 to 140, and the stock markets collapsed completely. But then some miracle happened, and in the next few months all these loses were reversed. I regularly check the Western media, and they still publish all sort of scare stories about the Russian economy. But no one can deny the fact that the government did an amazing job to avert an economic meltdown.

I think Putin has done his home work prior to this war, he knows this will happen and they have a plan of action for every move made by USA and its ally. Through this war we come to know that how big Russia oil and gas reserves are and they are game changer for Russia in current situation. Its time for Ukarine to stop playing in hands of USA and West rather talk directly with Russia for peace.

[Freeesta]

I never expected the Russian economy to be this resilient. As of now, Russia is the most sanctioned country in the world. When the first set of sanctions were introduced, media channels such as CNN and BBC were predicting a complete economic meltdown in a matter of weeks, if not days. The initial indications were in that direction. The Russian Ruble exchange rate plummeted from around 70 to 140, and the stock markets collapsed completely. But then some miracle happened, and in the next few months all these loses were reversed. I regularly check the Western media, and they still publish all sort of scare stories about the Russian economy. But no one can deny the fact that the government did an amazing job to avert an economic meltdown.

I think Putin has done his home work prior to this war, he knows this will happen and they have a plan of action for every move made by USA and its ally. Through this war we come to know that how big Russia oil and gas reserves are and they are game changer for Russia in current situation. Its time for Ukarine to stop playing in hands of USA and West rather talk directly with Russia for peace.

Over the past few months, the situation has changed a lot and there is no point in holding peace talks between Ukraine and Russia now. Ukraine will not remain the same. Peace talks could have been held in February, but not today. Now the result of further relations between countries will be determined on the battlefield. The rest of the world will draw their own conclusions, it's only a matter of time.

[be.open]

You are right, it is risky. But right now, Russia has an amazing window of opportunity to realize this. And it did not open on its own, Putin opened it with his pre-emptive invasion of Ukraine, which triggered Western economic sanctions and a mass exodus of Western companies from Russia, which themselves voluntarily freed the huge Russian market from their presence, creating favorable conditions for a large-scale transformation of Russia. I am not a big fan of Putin, but I truly admire the beauty of his strategy and the scope of his ambitions. It would have been much easier and safer to wait for Ukraine's invasion of the Donbass - and Russia would still have won, albeit with much greater human losses, but there would not have been this condemning pressure from the West on Russia, thanks to which Russia had a real chance for a painful transformation from another one country of the third world into the unifying power of the locomotive of the largest continent (which, by right of its birth and geographical location, it is). Let's see, Putin's speech yesterday at the economic forum in St. Petersburg gives a chance to hope that Russia will choose not the easy path of its development, but the right one.

I never expected the Russian economy to be this resilient. As of now, Russia is the most sanctioned country in the world. When the first set of sanctions were introduced, media channels such as CNN and BBC were predicting a complete economic meltdown in a matter of weeks, if not days. The initial indications were in that direction. The Russian Ruble exchange rate plummeted from around 70 to 140, and the stock markets collapsed completely. But then some miracle happened, and in the next few months all these loses were reversed. I regularly check the Western media, and they still publish all sort of scare stories about the Russian economy. But no one can deny the fact that the government did an amazing job to avert an economic meltdown.

Meanwhile, the Deputy Chairman of the Central Bank of Russia recently confirmed the abandonment of targeting the ruble exchange rate and the concentration on inflation targeting.

Any ideas related to course targeting, if implemented, will inevitably lead to a decrease in the effectiveness and loss of sovereignty of the economic policy being pursued.

If we bring our monetary policy so that our currency has some fixed or slightly fluctuating nominal rate against currencies where inflation is 8-10%, then our inflation will be the same. This is exactly the option that is unacceptable for us.

This confirms my assumption that Russia will try to take advantage of the window of opportunity that has opened for a systemic restructuring of its own economy, even if this promises to give up short-term profits due to current market conditions. Today, the ruble has strengthened to the level of 2015, less than 55 rubles per dollar.

[kapalmabur]

I never expected the Russian economy to be this resilient. As of now, Russia is the most sanctioned country in the world. When the first set of sanctions were introduced, media channels such as CNN and BBC were predicting a complete economic meltdown in a matter of weeks, if not days. The initial indications were in that direction. The Russian Ruble exchange rate plummeted from around 70 to 140, and the stock markets collapsed completely. But then some miracle happened, and in the next few months all these loses were reversed. I regularly check the Western media, and they still publish all sort of scare stories about the Russian economy. But no one can deny the fact that the government did an amazing job to avert an economic meltdown.

I think Putin has done his home work prior to this war, he knows this will happen and they have a plan of action for every move made by USA and its ally. Through this war we come to know that how big Russia oil and gas reserves are and they are game changer for Russia in current situation. Its time for Ukarine to stop playing in hands of USA and West rather talk directly with Russia for peace.

Over the past few months, the situation has changed a lot and there is no point in holding peace talks between Ukraine and Russia now. Ukraine will not remain the same. Peace talks could have been held in February, but not today. Now the result of further relations between countries will be determined on the battlefield. The rest of the world will draw their own conclusions, it's only a matter of time.

If we talk about hope of course we all want peace between the two countries,
but indeed so far peace talks have not really been carried out and it will be difficult for sure to stop the war completely,
This war really involves many things and is very complex such as politics, territory and others