Utopia Talk - Politics - This is the right time to buy the Ruble!

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Utopia Talk / Politics / This is the right time to buy the Ruble!

LazyCommunist
Member Wed Nov 27 13:02:46
Buy low now, sell high later!
You will be rich!

Remember: Putin plays 6d chess, all will be good in the end even if we do not understand it right now.

http://www...il-2025-as-ruble-slides-a87147

Russia’s Central Bank said Wednesday it will suspend buying foreign currency on the domestic market for the rest of 2024 as the ruble continued sliding to its lowest levels since Russia invaded Ukraine in 2022.

The decision to halt foreign currency purchases from Thursday until Dec. 31 seeks to “reduce volatility in the financial markets,” the Russian regulator said.

“The deferred purchases will be carried out during the course of 2025,” Russia’s Central Bank said in a statement.

The Bank previously suspended planned foreign currency purchases from Aug. 10, 2023, until Dec. 31, 2023, because they were adding extra pressure on the falling ruble at the time.

This year’s suspension comes as the ruble traded as low as 113 to the dollar for the first time since March 2022, according to Reuters. It was the Russian currency’s lowest level in more than 32 months.

Finance Minister Anton Siluanov said this week a weaker ruble benefits Russian exports. But the ruble’s devaluation also fuels inflation, which Reuters says could add 1.5 percentage points to the current inflation rate of 8.5% after the ruble’s four-month fall.

The Central Bank set the ruble’s official exchange rate at 108.01 to the dollar and 113.09 to the euro for Thursday.

It said Wednesday it will continue selling foreign currency through its sovereign wealth fund. It planned to sell the equivalent of 8.4 billion rubles per day in the second half of 2024.

jergul
large member Wed Nov 27 13:39:07
You should be getting 15% interest in a savings account, so, uhm, sure?

jergul
large member Wed Nov 27 13:44:28
By low, sell high is not going to happen however. The ruble will decline on fundamentals alone by 8% next year. Compared to a basket of its trading partner's currencies (the USD is part of that basket since USD is still used).

What you might want to do is invest in companies that export because their bottom lines suddenly are a lot better (that is what low currency mainly means. Not mainly access to markets. More profit when exchanging export revenue into domestic currency). That may not be fully priced in to stock values.

jergul
large member Wed Nov 27 13:45:20
Look at me pretending LC is legit :D. You are welcome LC! I still have kittens!

murder
Member Wed Nov 27 18:39:22

Enjoy it. Pretty soon you'll have cats. :o)

jergul
large member Wed Nov 27 18:53:01
Sadly, no. They are designer kittens with a waiting list.

show deleted posts

LazyCommunist Member	Wed Nov 27 13:02:46 Buy low now, sell high later! You will be rich! Remember: Putin plays 6d chess, all will be good in the end even if we do not understand it right now. http://www...il-2025-as-ruble-slides-a87147 Russia’s Central Bank said Wednesday it will suspend buying foreign currency on the domestic market for the rest of 2024 as the ruble continued sliding to its lowest levels since Russia invaded Ukraine in 2022. The decision to halt foreign currency purchases from Thursday until Dec. 31 seeks to “reduce volatility in the financial markets,” the Russian regulator said. “The deferred purchases will be carried out during the course of 2025,” Russia’s Central Bank said in a statement. The Bank previously suspended planned foreign currency purchases from Aug. 10, 2023, until Dec. 31, 2023, because they were adding extra pressure on the falling ruble at the time. This year’s suspension comes as the ruble traded as low as 113 to the dollar for the first time since March 2022, according to Reuters. It was the Russian currency’s lowest level in more than 32 months. Finance Minister Anton Siluanov said this week a weaker ruble benefits Russian exports. But the ruble’s devaluation also fuels inflation, which Reuters says could add 1.5 percentage points to the current inflation rate of 8.5% after the ruble’s four-month fall. The Central Bank set the ruble’s official exchange rate at 108.01 to the dollar and 113.09 to the euro for Thursday. It said Wednesday it will continue selling foreign currency through its sovereign wealth fund. It planned to sell the equivalent of 8.4 billion rubles per day in the second half of 2024.
jergul large member	Wed Nov 27 13:39:07 You should be getting 15% interest in a savings account, so, uhm, sure?
jergul large member	Wed Nov 27 13:44:28 By low, sell high is not going to happen however. The ruble will decline on fundamentals alone by 8% next year. Compared to a basket of its trading partner's currencies (the USD is part of that basket since USD is still used). What you might want to do is invest in companies that export because their bottom lines suddenly are a lot better (that is what low currency mainly means. Not mainly access to markets. More profit when exchanging export revenue into domestic currency). That may not be fully priced in to stock values.
jergul large member	Wed Nov 27 13:45:20 Look at me pretending LC is legit :D. You are welcome LC! I still have kittens!
murder Member	Wed Nov 27 18:39:22 Enjoy it. Pretty soon you'll have cats. :o)
jergul large member	Wed Nov 27 18:53:01 Sadly, no. They are designer kittens with a waiting list.
	show deleted posts

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