Loading ...IS THE RUSSIAN RUBLE IN TRUBLE ?
This is Interesting. One would think with all the Sanctions and Seizing of Central Bank Assets and all the Predictions of a Russian Army Failure and Calls for Putin Assassination and Calls for a WW3 response from NATO and the US …the Ruble would be Rubble !
We initially it blew out to 140 per US cent
Now it is rapidly returning to its long time equilibrium …presently 90 per US cent
Interesting…No ? Does this not mean all the Sanctions have amounted to much ado about nothing ?
Here’s the web page where you can follow all the obscure currency crosses
https://markets.ft.com/data/currencies/tearsheet/summary?s=USDRUB
The west had thought that sanctions and the theft of Russian reserves would cause bank runs, and therefore defaults of Russian banks. This would cause widespread inflation through the collapse of the currency, and unpopularity of President Putin to the point of regime change. By all accounts Putin’s popularity rating is in the mid seventies, and support for the military action in Ukraine is above eighty percent. Just another sterling plan by the west to put Russia in her proper place!
One good thing going for Putin is his very capable team of finance guys with calculators. Last report I heard was 80% of russias fx reserves were frozen. about 20% are in yuan. they obviosuly injected some cash into the system to stabilize the ruble, question is where did it come from…