The Russian Ruble

[Wagerallsports]

1.00000 RUB = 0.00833 USD​

 

[Wagerallsports]

How much was the ruble to U.S. dollar before all of this started??

 

[philipet87]

How much was the ruble to U.S. dollar before all of this started?

Month ago, it was something like that 0.0133212136

 

[Wagerallsports]

Month ago, it was something like that 0.0133212136

Do you think it Russia comes to it's senses, it will ever recover?

 

[Gary]

That's a great news. And hope it keeps going down forever.

 

[Wagerallsports]

Putin plans to try and force countries to pay in rubles for resources coming from their country

 

[philipet87]

Putin plans to try and force countries to pay in rubles for resources coming from their country

Economically that's a bad choice. Other countries will need to buy rubble to pay for the gas, that's will increase the price of the rubble, but will cause internal inflation raise, with temps of hyperinflation. On the other hand, this is inevitable, because 1 - shortage of normal supplies needed for the manufacturing process, lowered production - increased prices, low variation of alternatives. After that, we are expecting the economy to shrink, which will lead to an increased unemployment rate, and finally, we will see a recession for at least 1 or 2 years.

 

[lu.charvat]

European countries already dismissed paying in rubles so all okay I think

 

[tommir99]

1 RUB = 0.01504 USD

 

[Wagerallsports]

1 RUB = 0.01504 USD

So it's gone up??

 

[tommir99]

So it's gone up??

Yes, the ruble is getting stronger.

 

[Gary]

It bounced back amid the sanctions? Am I missing something here?

 

[Hunch]

It bounced back amid the sanctions? Am I missing something here?

Russia is propping up the ruble with higher interest rates, and other measures to create demand.

Their economy is still shrinking like crazy though.

How Russia rescued the ruble

The Russian ruble lost nearly half its value when Russia invaded Ukraine. Since then, it has been the top-performing currency in the world.

www.npr.org

 

[philipet87]

It bounced back amid the sanctions? Am I missing something here?

I think it's because the western countries are required to buy oil and gas with ruble which leads to increasing the price of rubble. But also that i think this causing and more rapid increasing the inflation of the rubble especially in Russia. And yeah recession is behind the corner.

 

[tommir99]

 

[Gary]

Russia is propping up the ruble with higher interest rates, and other measures to create demand.

Their economy is still shrinking like crazy though.

How Russia rescued the ruble

The Russian ruble lost nearly half its value when Russia invaded Ukraine. Since then, it has been the top-performing currency in the world.

www.npr.org

Glad to know economy still shrinking.

 

[tommir99]

1 RUB = 0.01704 USD

 

[2the9s]

1 RUB = 0.01704 USD

The ruble is rising against foreign currencies, but Russian inflation is almost 20%. IMO it's only a matter of time before the ruble crashes with inflation that high.

 

[doofy]

1 Russian Ruble equals
0.016 United States Dollar

 

[tommir99]

Russia's ruble is the strongest currency in the world this year​

"The Russian ruble continues to rise against the dollar, making it the best-performing currency in the world this year"

Russia's ruble is the strongest currency in the world this year

After its value plunged to less than a U.S. penny, the ruble is now trading 40% higher than before Russia attacked Ukraine. Why?

www.cbsnews.com