Ruble - Strongest World Currency!

cootmeurer

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For a team that is supposedly the brightest bunch of economists ever, led by the greatest president ever - they sure seemed to have screwed this up. From an exchange rate of less than 1¢ to today - worth almost 50¢.

If there is truly a Dunning Krueger effect, I would have to say the current occupant and his people are the perfect examples.
 

Fowl Hunter

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From the article;

Normally, a country facing international sanctions and a major military conflict would see investors fleeing and a steady outflow of capital, causing its currency to drop. But Russia's unusually aggressive measures to keep money from leaving the country, in combination with a dramatic rise in fossil-fuel prices, are working to create demand for rubles and pushing up its value.

So rubles are not leaving the country. That means the ruble is not being used in world markets. Really strong - NOT.
 

pintail2222

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From the article;

Normally, a country facing international sanctions and a major military conflict would see investors fleeing and a steady outflow of capital, causing its currency to drop. But Russia's unusually aggressive measures to keep money from leaving the country, in combination with a dramatic rise in fossil-fuel prices, are working to create demand for rubles and pushing up its value.

So rubles are not leaving the country. That means the ruble is not being used in world markets. Really strong - NOT.
Remember - it's value is being measure against the USD. So what do you think that does to the "financial" sanctions that have been placed on Russia?

Both of our economies are tanking - but you gotta believe that Russia cooks it's books worse than we do...
 

lax

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Is the Ruble really stronger or is the Dollar worth less?

A toaster in Russia runs around $30 on average, I'm guessing the don't have a Wallsofjunk on every corner.
 

J.Bennett

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For a team that is supposedly the brightest bunch of economists ever, led by the greatest president ever - they sure seemed to have screwed this up. From an exchange rate of less than 1¢ to today - worth almost 50¢.

If there is truly a Dunning Krueger effect, I would have to say the current occupant and his people are the perfect examples.
Don’t know where you’re getting that the Ruble is worth $0.50… it’s worth about $0.02, or 1 US Dollar = 50 Rubles.
 

pintail2222

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Don’t know where you’re getting that the Ruble is worth $0.50… it’s worth about $0.02, or 1 US Dollar = 50 Rubles.
Pulling up a chart 1 ruble is currently at around 0.018 USD.

3 months ago - March 2022 - 1 ruble was at around 0.007 USD.

6 months ago - December 2021 - 1 ruble was at around 0.014 USD.
 

J.Bennett

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Pulling up a chart 1 ruble is currently at around 0.018 USD.

3 months ago - March 2022 - 1 ruble was at around 0.007 USD.

6 months ago - December 2021 - 1 ruble was at around 0.014 USD.

Which is a far cry from:
From an exchange rate of less than 1¢ to today - worth almost 50¢.
 

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