Litwin
Platinum Member
1/2 Currency exchange rates with the horde , a roundup of major currency rates against the crashing Ruble - and why this matters. Context: A countries currency value is an indicator of the health of it’s economy. A general view it that if a country is exporting lots of goods and services, that creates a demand for the #currency, and providing the country isn’t printing and circulating more of it’s currency - the value of the currency rises. If there is no demand for the currency, because there isn’t sufficient export and trade to stimulate the demand, or other countries won’t deal in your currency - then the value of the currency falls. the horde is a net exporter traditionally, there was a strong demand for its main exports of oil and gas before the illegal and murderous invasion of Ukraine. So how has the #Ruble performed over the past year against other main currencies? #USD / Ruble 12 Months DEVALUED 62% (Up from 59 Rubles per USD to 97 per USD) 6 Months DEVALUED 33% #Euro / Ruble 12 Months DEVALUED 75% (Up from 60 Rubles per Euro to 106 Rubles per Euro) 6 Months DEVALUED 36% #Chinese Yuan / Ruble 12 Months -DEVALUED 53% (Up from 8.8 Yuan to 13.5 Yuan to the Ruble) 6 Months DEVALUED 28% #IndianRupee / Ruble 12 Months DEVALUED 58% (Up from 0.75 Rupees per Ruble to 1.17 Rupees per Ruble) 6 Months DEVALUED 33% Next: why the Rubles decline matters in these 4 main currencies
Bank of Russia pauses foreign currency purchases as ruble nears 100 per US dollar
With an aim to help the ruble, which has fallen to its lowest value in 16 months, the Bank of Russia has decided to stop buying foreign currency in the domestic market for the rest of 2023. The decision comes as the ruble has lost about 24 percent of its value this year. The ongoing decline in...
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