Topic: Dubai Dirham and russian rubles are like some low Cap cheap coins now (Read 174 times)

In a few days, it will be exactly two years since Russia began its large-scale invasion of Ukraine. These two years of war with Ukraine cost Russia $211 billion (19.5 trillion rubles). We are talking about the costs of equipping, deploying and maintaining troops for offensive operations, a senior US Defense Department official said, Reuters reports.

Generally speaking, the invasion of Ukraine cost $1.3 trillion, taking into account the lost economic growth of Russia, which was expected until 2026, the Pentagon noted. If Putin had not started the war, the Russian economy could have been 5% larger, the US Treasury previously emphasized.

  The government has included record defense spending since Soviet times in the 2024 budget: it will amount to 10.775 trillion rubles, or 29.5% of all spending. At the same time, spending on social needs and other areas that could be aimed at improving the well-being of Russian citizens is sharply reduced. This winter, the suburbs of Moscow suffered from freezing temperatures and people were forced to warm themselves in the streets near fires as public utilities fell into disrepair due to long-term underfunding.

A Pentagon official also assessed the damage caused to the army. According to him, Russia's losses in killed and wounded reached 315 thousand people. This is about 87% of the personnel that the Ministry of Defense had before February 24, 2022.

All this certainly affects the purchasing power of the ruble, which is falling more and more rapidly. https://ukrrudprom.com/news/Pentagon_Putin_potratil_navoynu_bolshe_210mlrd_dollarov_ipoteryal_315_tis_chelove.html

Ruble is like a falling knife. Before the war in Donbass started, the exchange rate was like 1 USD = 30 RUR. Now the exchange rate is like 1 USD = 97.53 RUR. And in case the Russo-Ukrainian war gets extended for 1-2 years more, then there is a good chance that the Ruble will get devalued even further. And now coming to the United Arab Emirates Dirham, I believe that this currency is somehow linked to the US Dollar (similar to the case with other GCC currencies). So I am not sure whether hoarding the AED instead of the USD is a good idea.

i can understand the rubble is having their crisis right now. but dirham? maybe im not updated with the news from the middle east. but anyhow, investing in fiat currencies esp rubble is i believe not a smart idea. but hey, if you have extra extra money lying out there and you believe in the years to come, rubble will recover, then go for it. but don't expect that you can get good money out of it in the short term scenario.

It's not a mistake. This is a strategic miscalculation based on one’s own inflated self-esteem, self-hypnosis, and systemic lies within the ruling elite. Kleptomaniacs at the top. And now, being a coward and a scoundrel, Putin, trying to save his own skin, continues to send his citizens to slaughter, who, on his orders, kill citizens of Ukraine. At the same time, he is not worried about the impoverishment of the country, the collapse of the economy and the rapid fall of the ruble....
Yes, and most importantly, no one will save the Russian economy. Cheap Russia, ready to work and sell resources “for food”, is CHINA’S DREAM. The only thing the world is afraid of is the proliferation of nuclear weapons through the “Kremlin hands”

Putin's Russia made an unforgivable mistake by attacking Ukraine and trying to destroy this state. The Kremlin has long understood this, and if they could go back in time so as not to make such a fatal mistake, they would probably do it. But for now it is impossible to stop time. The current situation, in which the political leadership of Russia denies the harmfulness of such a decision for Russia, only aggravates the situation and leads to more serious consequences. For Putin, admitting this mistake means at least his political death, so he is simply playing for time, continuing to believe in miracles and use shamans and otherworldly forces. Therefore, the ruble will continue to fall. This is already inevitable. The Russian economy has entered a deep dive, from which it will be impossible to get out of it for many years.

I am laughing so hard reading this reply, lmao.

I have traded forex in the pas but I am no forex expert, but I know that Dirham (AED) and Ruble (RUB) was never a high performing assets. Compared to USD or GBP those two are far below the GBP and USD level, AED and RUB are not even Tier 2 in my opinion. And with what has been done by Russia it can only get worse.

Inflation is a major concern for all of us as it erodes value of our assets, and Bitcoin is considered one of the best hedge against inflation due to its limited supply capped at 21 Million coins. Investment in Bitcoin is relatively a prudent decision, in its historical context, as it has demonstrated outstanding performance since it was launched in 2009. Moreover, halving event in mid 2024 makes it an attractive investment choice for medium term investment. When we evaluate all these advantages, Bitcoin appears to be a more favorable option compared to fiat currencies, such as Russian Ruble or Dubai Dirham

I don't understand why OP is talking about fiat currency and he isn't talking about the US dollars but some weak currency like that of Russia. With the current situation that Russia is facing do you think that their currency will be revived. Fiat currency will never have a bull run and don't get it twisted. The word bull run is used for cryptocurrency and not for fiat. Binance is also used to buy and sell digital currency so I don't know where you are heading to. If you want to buy fiat look for a stock market and not here. This platform is a cryptocurrency platform mainly on bitcoin,I hope that you didn't miss you way to this platform.

bro If you love fiat then buy it or trade it on Forex it is also a form of investment but in my opinion, If I were you I would definitely buy crypto instead of fiat especially bitcoin. Remember inflation is a monster.

Here a picture



Unless you have ton of money and then put it the bank to make it grow, but bank usually give 3-7% while the inflation rate now is around 5.25% for US

Good Luck hehehehe

Are you serious about Russian Ruble? If you really think that Russian Ruble is going to bull run, you really have to spend a lot of time and learn about economics. First of all, national currencies don't do bull run because huge strengthen of national currency is very bad for country too, it makes their products very expensive for export, brings a shock to businesses and absolutely every institute and for bonus, I want to tell you that deflation is a sign of weakening economy too. Russia won't be able to produce such a big surplus of goods and services to make a bull run of Rouble, I don't really know how you've really got this idea. Have a look at this article: Investopedia.

By the way, if you still decide to strongly bond with Ruble, I'll help you: Yes, you can exchange Bitcoin to Rubles, even if you are not a Russian customer but if you want to withdraw, you need to have Advcash account, all other options are suspended at the moment as far as I see.
Or another option for you will be to do P2P trade on Binance and exchange your Bitcoin or USDT/BUSD, ETH and so on to other people for RUB. More likely you'll need to have a KIWI wallet or Tinkoff.

What's your point? What you are trying to prove?

I think you can go to some forex related forums to ask such questions. This is purely for cryptos and I don't think you will find a lot of people active in forex market.

Also, remember what Stompix has said!

The Russian Ruble is often perceived as less attractive for investment due to its heavy reliance on energy resources which limits the versatility of Russian economy. In contrast, Dubai is relatively an open and investor friendly country with significant oil reserves, and an emerging economy in the middle east. For long term investors , Chinese currency appears more suitable because it is second largest economy of the world, with strong export based industries and rapid technological advancement in all sectors of industries.

When people are looking to buy a good currency you are busy pursuing Russian Ruble. Well, good luck to you in your expected Russian bull run, but I bet you will get disappointed with such an investment. And if you must buy Russia Ruble, find out with your local bank or go to Russia to purchase it...lol.

But Binance is not the right place for you to purchase your Ruble if you are not in Russia or have a bank account there, the P2P might not work for you in that regard.

However, the other alternative is for you to purchase it through an FX broker, but ensure that the broker offers a swap-free account, or else you will run into debt.

1) There is no dubay
2) There are no diryhams
3) There might be some dirty hams in your fridge
4) There is no such thing as Dubay dirhams
5) The United Arab Emirates dirham has been pegged to the US dollar for 3 decades

AS i says dubay diryhams and rubles Are now like some cheap low caps coins it's funny
Those Are one of the best performing assets for sure becouse oil sell.
Also the UK gbp Will do good in price wise becouse UK selling oil Also ...
But Im expecting russian rubles bull run ... Do you buy rubles all ready?

Does binance sell rubles right for non russian customers ?