Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t ...
Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday, the Russian ruble rose to 55.47 per dollar, which was the highest increase since 2015. While many have dismissed the ruble’s exchange rate, Charles Lichfield, the Atlantic Council’s Geoeconomics Center deputy director, published an editorial called: “Don’t ignore the exchange rate: How a strong ruble can shield Russia.” Russia’s....
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Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.” American economists have been perplexed about the ruble’s market performance and Russian officials have been quoted as saying that a strong ruble “makes Russian exports more expensive.” Furthermore, U.S. president Joe Biden continues to blame high gas prices on Vladimir Putin.
Vladimir Putin Says the West’s Sanctions Obviously ‘Did Not Succeed’....
The Russian ruble is in serious trouble. A strengthening dollar, falling oil prices and a lethargic economy have conspired to cause the ruble's latest plunge. On Thursday, the ruble fell by about 4% to exchange at 46.68 to the US dollar. This represents a 14-year low. Cumulatively, the ruble has shed 25% of its value in 2014 alone, making it one of the worst performers in the money markets. Analysts predict that the currency may not fall below the 50-ruble support level, however that remains to be seen especially in light of the news from the country's central bank. The Central Bank of....
Bitcoin price remains stuck ranging around lows near $38,000. However, the price per coin trading against the Russian ruble has set a new record all-time high as the nation’s currency is in fiat free fall. While stronger currencies like the dollar have yet to follow, is the chart you’re about to see a prelude to […]
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble for Payments in Trade With China The Central Bank of Russia is gearing up to launch settlements with the digital ruble, the new incarnation of the Russian fiat currency that’s now being tested, as early as 2023. According to a statement by a....
While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020.
The Greenback Is Soaring, but Russia’s Ruble Is Also Rising Higher
This week the U.S. Dollar Currency Index (DXY) skyrocketed to new heights leaving a great number of fiat currencies worldwide badly bruised. For....