The currency pair yahoo is quoting is obviously based on some sort of medium of exchange and that’s continuously being updated. Just because a private citizen is not able to go and buy rubles doesn’t mean a multibillion dollar German utility is beholden to the same rules. I don’t know on the exact mechanics of what’s happening but for the rub to inflate like this it means someone is buying it. It’s hard to believe Russia would be using their fx reserves to do so, the only plausible explanation to me is euros needing it to buy gas for the foreseeable future.

This post was edited by ofthevoid on Mar 29 2022 12:40pm

my advice to you -> go make a trip to Ukraine and transform into gruz200 u troll.

https://www.themoscowtimes.com/2022/03/09/russia-bans-foreign-currency-sales-a76835

Russia is not allowing ANYONE to convert rubles to dollars within their country. That means the demand to convert rubles to dollars would occur outside of Russia. What percent of rubles do you think exist outside of Russia? Converting dollars to rubles is allowed which can artificially drive up the price.

Another thing to look at is trade volume: https://www.cmegroup.com/markets/fx/emerging-market/russian-ruble.volume.html
This is just one organization but that's going to have a substantial effect on price as well.

The hell, alot of things aren't allowed in Russia.

Also, they DOUBLED interest rates to 20%

I'm confused as to what point you're trying to make. Do you think the rouble is appreciating because you think all of the sudden normal Russians are selling their euros and dollars for roubles? Probably not. Do you think their government is buying roubles, therefore shrinking the money supply which would cause the rouble to appreciate? Maybe, but imo unlikely as their central bank can basically print roubles out of thin air, so i don't think they would deplete their fx reserves to buy roubles.

At the end of the day, we know someone is buying roubles, my bet is on the Europeans that are dependent on Russian imports. Looks like per this article exporters being forced to convert their fx earnings also is playing a role.





https://money.usnews.com/investing/news/articles/2022-03-29/rouble-hits-one-month-high-vs-dollar-russian-stocks-regain-ground#:~:text=(Reuters)%20%2DThe%20Russian%20rouble,volatile%20session%20in%20mixed%20fashion.

This post was edited by ofthevoid on Mar 29 2022 04:30pm

My point is that we shouldn't look into it too much. With so many restrictions, we don't know the true market value of the currency because there are an immense amount of distortions.

Globalisation only works when there is no war. The dependence on many imports from another country makes you vulnerable.
The smaller nations might have to form an alliance/partnerships but there is absolutely no reason that larger nations should be reliant