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grubarura

12,306 Posts.

676

23/06/22

21:15

Post #: 62173049
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Originally posted by Cosmoterios: ↑

You can't have it both ways.

In the first few weeks after 24 Feb 2022, the Roubles tanked to 150 to 1 USD. And back then, there was no SWIFT access as well, for all the sanctioned goods. Was it a Potemkin then?

Btw, SWIFT is NOT an International Banking System - its just a messaging system. Russia have their own system and billions of dollars in trades are now going through that messaging system.

In any case, what turned around the 150:1 exchange to 52:1, was the introduction of the gas for roubles payment system.

Since then, the Roubles have appreciated immeasurably.

The Russian Central bank have dropped interest rate from 20% (at the start of sanctions), to 9%. And the Rouble continues to rise.

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In the first few weeks after 24 Feb 2022, the Roubles tanked to 150 to 1 USD.

Then it was a still market trading

Now Russia is trading with itself therefore can set any price
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