Moreover, this is not free market exchange rate, because the Russian central bank is extremely subsidizing the ruble - people
and exporters are forced to exchange foreign currencies for rubles, and interest rates are extremely high in Russia...
The real value of the ruble may be a third lower...
#rubl #rouble #russianruble #euro #eurocent #exchange (#rubble 😅 )
Something's about to break 🔨
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"The Russia ruble fell to its lowest since April 2022 amid speculation Shell could repatriate $1.2 billion of the currency.
This comes amid a growing liquidity crunch and foreign flight on the back of Western sanctions.
Meanwhile, the Chinese #yuan recently surpassed the #USDollar as the most traded currency in #Russia."
#RussianRuble at Lowest Level in a Year on #Shell Repatriation Speculation | #RussiaSanctions #UkraineWar
Jan's insights
Norobiik @