Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Showing Original Post only (View all)

yaesu

(9,381 posts)
Wed Apr 27, 2022, 09:38 PM Apr 2022

russian monopoly money is now at a 2 year high so is this the work of artificially inflating their [View all]

currency using voodoo economics or are sanctions just not hurting their economy?

The rouble soared to a more than two-year high against the euro in Moscow trade on Wednesday, Reuters reports.

Russia halted gas supplies to Bulgaria and Poland for rejecting its demand for payment in roubles on Wednesday.

By 2:18pm GMT, the rouble had gained 1.8% to trade at 75.43 versus the euro , its strongest since early March 2020.

It was 1.1% stronger against the dollar at 72.75 .



Now, I had to check this for myself by calling up the chart & its true but hard to believe.

20 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
20 percent interest rates. roamer65 Apr 2022 #1
oh, yes, the interest rates, probably bonds, ect... play in but the risk has got to be "yuge"! nt yaesu Apr 2022 #2
Also, the Chinese Yuan is seeing increased use. roamer65 Apr 2022 #12
The Russians haven't used theor own currency for serious transactions for a while now. DFW Apr 2022 #13
Reminds me of my 2001 trip to Australia. roamer65 Apr 2022 #14
That and the fact that foreigners are allowed to buy rubles but not sell them GregariousGroundhog Apr 2022 #10
Sanctions don't work. former9thward Apr 2022 #3
Sanctions take time rockfordfile Apr 2022 #4
North Korea and Iran have been under some form of sanctions for decades. former9thward Apr 2022 #5
Sanctions are just one tool in the toolbox Kaleva Apr 2022 #17
The amoral market is betting the world can't quit Russian fossil fuels. hunter Apr 2022 #6
When will the world learn that decentralized solar energy is the ultimate solution. UCmeNdc Apr 2022 #7
We zoomed right past that exit a long time ago. hunter Apr 2022 #8
update just now yaesu Apr 2022 #9
If those numbers (75.43 now vs 72.75 before) are accurate, the ruble is getting weaker, not stronger DFW Apr 2022 #11
You are mixing up Euros and dollars. former9thward Apr 2022 #15
That doesn't quite compute, though DFW Apr 2022 #18
'I am paid in dollars but live in euros.' Celerity Apr 2022 #16
I could only wish! DFW Apr 2022 #19
I'm paid mostly in favors like some Cory Doctorow novel. hunter Apr 2022 #20
Latest Discussions»General Discussion»russian monopoly money is...