The Rouble Regains 100% of Its Loss

  •  When Russia invaded Ukraine on February 24, 84 roubles bought one US dollar. The ruble has returned to where it began on February 24. On March 7, 131.2 rubles were required to purchase one US dollar, representing a 36% decline in the ruble’s value relative to the US dollar. Putin has recently pressed for rouble payments. Mario Draghi, Italy’s Prime Minister, and Putin have talked about paying for gas in Russian rubles. 
  • Europe sells Euros to Russia’s central bank in order to obtain rubles to purchase oil. Europe immediately returned the rubles it received to Russia to pay for the oil. 
  • Russia’s central bank accumulates euros; Russia sells oil in exchange for euros.
  • Russia’s central bank accumulates the same amount of Euros as in case number one, and the currency exchange occurs in seconds.

 

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#edgeforex #forextrading #forexsignals #russia #ukraine #rouble #dollar #oil #europe #gas #value #cryptocurrency #bitcoin

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