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

[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

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[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.