Topic: Unusual Situation as Russia’s Ruble bounces back as world best per fiat currency - page 2. (Read 315 times)
June 09, 2022, 01:34:10 PM
I don't think the Russian Ruble was ever close to being the world's best fiar currency in history. In order to be the best fiat currency, there are some factors to be checked and some requirements to be done, one important part is the political part, and since Russia doesn't have had a good foreign political related to other countries nad especially the European countries they cannot have the world's best fiat currency, They also faced some economical sanctions and that's why I can say Russian government cannot see this situation in their dreams.
June 09, 2022, 12:50:55 PM
Well there are few things that they have been doing:
1. Having extreme control of the market
2. Making sure that they get paid in Rubles for the gas
3. They are selling it at any price possible as well
4. There are also making their domestic market strong
This is just a bubble because the amount of resistance that they can provide is small, this buffer system is not going to work for longer and at the end of the day they will loose and would be down to zero. Don't worry all the regulations and sanctions are working, everyone knows it.
1. Having extreme control of the market
2. Making sure that they get paid in Rubles for the gas
3. They are selling it at any price possible as well
4. There are also making their domestic market strong
This is just a bubble because the amount of resistance that they can provide is small, this buffer system is not going to work for longer and at the end of the day they will loose and would be down to zero. Don't worry all the regulations and sanctions are working, everyone knows it.
June 09, 2022, 11:20:18 AM
Regardless of the data that has been displayed, I think everything can be manipulated based on political interests to make the issue a balance of power. I wouldn't be surprised by the sheer volume of data regarding the ruble's rise or fall. Because basically, the impact was worse for those of us who were not involved in the war. But it bears more than the sanctions imposed on Russia. So who is actually going to be hit and who is going to hit the economy of another country when two countries are at loggerheads?
June 09, 2022, 10:56:12 AM
Got this from reuter I guess
Source: https://graphics.reuters.com/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html
Source: https://graphics.reuters.com/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html
June 09, 2022, 10:43:23 AM
I was a little amused by the title of the topic. But later, I found an explanation and the correct link from where the OP got this news.
https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/
But my opinion suggests that apparently, six packages of sanctions are too few for Russia; a seventh is needed, and if possible, several more, so that we can stop being surprised at the extreme survival of this country.
https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/
But my opinion suggests that apparently, six packages of sanctions are too few for Russia; a seventh is needed, and if possible, several more, so that we can stop being surprised at the extreme survival of this country.
Correct, this shouldn't be too surprising that Russia was able to save their currency slightly within the context of extreme sanctions.
Quote
However, during the second week of April 2022, Bitcoin.com News reported on the country’s central bank slashing rates and pegging the ruble to gold. At the time, Russia’s central bank pegged the price of RUB to 5,000 rubles for a gram of gold. Russia also made it so “unfriendly” countries are forced to pay for gas with the ruble. Numerous international buyers are complying with the rule and paying for petro products in rubles. The country’s central bank also slashed Russia’s benchmark bank rate as well.
Russia is sitting on a lot of energy exports that India and China are willing to purchase readily. Other countries in Europe require these energy exports too and there is not an indication that these other countries can immediately switch energy suppliers without drastically raising the costs. Relatively speaking, ruble still isn't performing well.
June 09, 2022, 10:38:34 AM
Quote
Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite.
Source Now my question is how often can we see a country's Fiat currency currency thrive despite the harsh economy in the country?
It's interesting to see how easily some people can be fooled without doing any proper research on the topic. There is no doubt that Russia has a positive budget which is fuelled by high oil and gas prices right now, but the rest of their maintenance economy is in tatters and we are still only in the very early stages of seeing this play out. Nobody wants to but roubles right now and foreign businesses are being restricted from selling assets as they flee the country after dire sanctions, so Russia can use their relatively large reserves to prop the currency up to any level they want. The central bank of Russia actually went too far in this illusion because an overly strong rouble is actually even more damaging especially in the current situation.
June 09, 2022, 10:14:35 AM
It's actually a miracle. Same way the pandemic went the way alot didn't expect. Truth is like oil in the water no matter how hard you try to hide it it still float for all to see
It will be more obvious in the future.
It will be more obvious in the future.
June 09, 2022, 10:02:44 AM
Quote
Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite.
Source Now my question is how often can we see a country's Fiat currency currency thrive despite the harsh economy in the country?
The answer is natural resources here! Russia is a part of OPEC plus countries and has one of the biggest oil and gas reserves. So now America's dream is coming true when they see EUR is dropping faster than expected. Because that's was always the gameplan of US. Russia has told ass their buyer to pay in Rubles and as a result their buyers have started selling their euros against Rubles to pay Russia for their oil and gas bills. As a result, EUR is standing at all time low and Russia is getting the benefits of strongest Rubble ever. US is happy because EUR is weakening and UK is happy to prove that Brexit was a correct decision.
June 09, 2022, 08:48:44 AM
According to what I found online, Russia ruble has not been in its best since the invasion. Russia invaded Ukraine on February 24, ruble price increased during that time, since February 25th and got to its pick on March 11th which is its peak (on the the graph below). Ever since March 11th, ruble price has been on the decline and fall more than the price it was before the war.
And their currency having a blow-off top like a total shitcoin is only just the tip of the iceberg. Their stock market is getting toast, and it seems likely to continue as well.
June 09, 2022, 07:35:19 AM
Code:
[url=https://app.bitcoin.com/news/]Source[/url]
You did not specify the link, that is not the link to the right news, I code you the link you embedded to let you know that I am right. Likely the news is some weeks or months old, not what is happening presently.According to what I found online, Russia ruble has not been in its best since the invasion. Russia invaded Ukraine on February 24, ruble price increased during that time, since February 25th and got to its pick on March 11th which is its peak (on the the graph below). Ever since March 11th, ruble price has been on the decline and fall more than the price it was before the war.
https://www.xe.com/currencycharts/?from=USD&to=RUB
Merit sent
June 09, 2022, 07:28:12 AM
I was a little amused by the title of the topic. But later, I found an explanation and the correct link from where the OP got this news.
https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/
But my opinion suggests that apparently, six packages of sanctions are too few for Russia; a seventh is needed, and if possible, several more, so that we can stop being surprised at the extreme survival of this country.
https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/
But my opinion suggests that apparently, six packages of sanctions are too few for Russia; a seventh is needed, and if possible, several more, so that we can stop being surprised at the extreme survival of this country.
June 09, 2022, 04:49:20 AM
Quote
Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite.
Source Now my question is how often can we see a country's Fiat currency currency thrive despite the harsh economy in the country?
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