Rouble and its troubles

 

This week, the US dollar was valued at around 80 Russian rubles, roughly the same exchange rate that existed before Russia invaded Ukraine on February 24. The Russian currency was initially battered by Western sanctions, but it has since recovered. 

One of the sanctions’ explicit goals was to harm Russia’s currency. The ruble is now worth the same as it was before the war. 

The Russians recognise that the goal of the game is to devalue their currency, which was accomplished through central bank sanctions, which were the most dramatic aspect of the new sanctions campaign over the first weekend of the war. As a result, they have made restoring the currency’s value a top priority.

They completely manipulate the Russian currency market because they control it at home. They are restricting the ability of foreigners who have invested in Russia, or anyone else, to sell rubles. 

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