Russia's Central Bank Pauses Foreign Exchange Purchases

[Torch]

Russia's Central Bank Pauses Foreign Exchange Purchases, Bolstering the Ruble​

Russia's Central Bank Pauses Foreign Exchange Purchases, Bolstering the Ruble

On Wednesday, Russia's Central Bank announced in a statement that it will halt the purchase of foreign currency in the domestic market until the end of 2023, starting from August 10, in an effort to reduce financial market volatility. Decisions on resuming these foreign exchange purchases will...

www.btimesonline.com

 

[Publius]

Russia's Central Bank Pauses Foreign Exchange Purchases, Bolstering the Ruble​

Russia's Central Bank Pauses Foreign Exchange Purchases, Bolstering the Ruble

On Wednesday, Russia's Central Bank announced in a statement that it will halt the purchase of foreign currency in the domestic market until the end of 2023, starting from August 10, in an effort to reduce financial market volatility. Decisions on resuming these foreign exchange purchases will...

www.btimesonline.com

It’s not a good sign for the ruble

 

[Totality 🇺🇦 🇮🇱]

It’s not a good sign for the ruble

You mean The Ruble that's worth less than a single USD penny?





They been hurting, proven factually. As seen above, along with tons of sources postsed throughout this war showing Russian economy crippled.

But Russian trolls still insist sanctions are not hurting. Haha!!! Right.

 

[Unidentified]

I've got a friend in Lithuania. I tease him and call him Russian still Anyway, he says sanctions ain't hurting Russia as much as we are told. He said they make most of their own products and don't rely as much on foreign trade as the rest of the world does.

I also came across a video on youtube about Russia's largest mall about three weeks ago and it sure as heck don't look like their economy is hurting that much:

I enjoyed watch that video. It looks like what American malls looked like in the 1980s and 1990s, bustling with people. Today, my mall 40 miles away is decaying, being abandoned, and empty of shoppers soon to close.

But what do I know? I ain't an economist nor live or work in Russia.

 

[Publius]

I've got a friend in Lithuania. I tease him and call him Russian still Anyway, he says sanctions ain't hurting Russia as much as we are told. He said they make most of their own products and don't rely as much on foreign trade as the rest of the world does.

I also came across a video on youtube about Russia's largest mall about three weeks ago and it sure as heck don't look like their economy is hurting that much:

I enjoyed watch that video. It looks like what American malls looked like in the 1980s and 1990s, bustling with people. Today, my mall 40 miles away is decaying, being abandoned, and empty of shoppers soon to close.

But what do I know? I ain't an economist nor live or work in Russia.

I’m not necessarily disputing your claims of how much Russia is hurting or not.
I’m not sure how good of a comparison economic strength is based upon mall activity.
Malls were dying in the states over a decade ago. People used to shop them for selection and novelty. As well as movies. The internet has virtually replaced malls I believe in the states.

 

[Deleted account]

I also came across a video on youtube about Russia's largest mall about three weeks ago and it sure as heck don't look like their economy is hurting that much:

Beware of drawing comparisons with the West, US in particular. In an authoritarian state wealth clings to political power. You have to be in the loop - politically speaking - in order to amass and keep wealth. This has historically resulted in (over)development of the capital city: that's where the political trough is located, so that's where everyone wants to migrate. The flipside, however, is that everywhere else becomes dirt poor.

There's a saying in Russia: "People go to Moscow for the money, to St Petersburg for the culture, and they don't go to Mukhosransk [which translates roughly to "Bugshitville"] at all, because why the f**k would you want to go there?"

I'm not surprised to see boutique stores in central Moscow. That is not, however, representative of the Russian economy in general.

 

[william]

I once dated a russian girl that was here on one of those exchange programs and she told me she lived about 40 miles outside of moscow and didn't even have electricity. Of course, that was about 50 years ago now so I'm sure it has changed.

 

[Dr Arthur]

I once dated a russian girl that was here on one of those exchange programs and she told me she lived about 40 miles outside of moscow and didn't even have electricity. Of course, that was about 50 years ago now so I'm sure it has changed.

probably not as community services are still atrocious. My sister's neighbour, and a distand relative, has a Russian wife who lived a similar distance from Moscow with her mother. They had no power, running water or sewerage. When she emigrated to Australia she also brought her son Igor who is currently 20 and very grateful he is not in Russia and is now an Australian citizen. He is aware that some of his peers from his grandmother's hamlet have been killed in Ukraine. His wife regularly goes back to Russia to visit her aging mother and things have not got any better. They don't even have a phone service.

 

[Unidentified]

I know I'm giving away the area of the United States of America I live in but it is not exactly the location. I could be in several of the states that surround this area. However, this is what it pretty much looks like in my area.

Poorest Region of America - What It Really Looks Like ​

Inside Appalachia - First Impressions ​