Ruble rallies amid easing of capital controls.

The Russian ruble has strengthened against the euro and US dollar on Friday, trading data from the Moscow Exchange shows.

The rally comes despite the easing of capital controls this week, after the central bank allowed purchases of foreign currencies in the country.

As of 10:07 GMT the Russian currency had jumped roughly 2.7% compared to the end of the previous day’s trading to 78 rubles against the euro, and gained around 2.3% against the greenback to trade at 72.8 to the dollar. Since Monday, the Russian currency gained 5% against the euro and 8% against the dollar.

On Thursday, the central bank announced that all exporters will now have 60 business days instead of three to carry out the obligatory sale of foreign currency, credited to their accounts in authorized banks. Earlier the bank increased the period from three to 60 business days for non-resource, non-energy exports. The ruble is also helped by companies preparing to pay a record three trillion rubles (roughly $39 billion) in taxes this month, Reuters says.

Also on Thursday, the governor of the country’s central bank, Elvira Nabiullina, was approved for another five-year term by the lower house of the Federal Assembly, after President Putin had expressed confidence in her work.

The ruble has been strengthening against major currencies since early April, after Russia announced a new gas-for-rubles payment scheme. One month before that the ruble plunged to historic lows amid Western sanctions over the conflict in Ukraine, dropping to as low as 150 to the dollar, but it has since fully recouped its losses.

Source: https://www.rt.com/business/554324-ruble-rallies-easing-capital-controls/

If I say I understand this war, I de Cap

False hope for the Russians. Who have they been trading it with even with the sanctions

Very soon, the sanctions will start biting the Russians hard.

helinues:
False hope for the Russians. Who have they been trading it with even with the sanctions

Bring evidence it’s false hope.

Parachoko:
Very soon, the sanctions will start biting the Russians hard.

When is very soon?

Zooposki:


Bring evidence it’s false hope.

Who have they traded the Rubble with? Who demanded for it?

This is logical bro

Zooposki:


When is very soon?

June/July.

helinues:
False hope for the Russians. Who have they been trading it with even with the sanctions

Cry cry, when I told you about this event happening you were arguing, you don't have foresight.
Let me shock you again United States under Joe Biden will run into recession if they don't adjust their style

WATCHOVER:

Cry cry, when I told you about this event happening you were arguing, you don't have foresight.
Let me shock you again United States under Joe Biden will run into recession if they don't adjust their style

Pardon!

You are probably mistaken me for someone else.. When did you tell me?

Parachoko:
Very soon, the sanctions will start biting the Russians hard.

From 2 weeks to very soon

helinues:


Pardon!

You are probably mistaken me for someone else.. When did you tell me?

Lol

Sirlancelort:


From 2 weeks to very soon

The effects of sanctions are not something that manifest in a blink of an eye you know

It's now worth more than what it was before the special military operation, as at xterday it was 79 ruble to a dollar, now it's 77 ruble to a dollar.

Sanctions only works in Africa because we are clueless.

Fake! Time will tell.

Fixed Exchange rate by their CBN

Same thing Emefiele does

Good.

However, from open sources there are two major reasons for this:

1. Reduced demand for USD within Russia
2. Increased demand for Roubles outside Russia

Due to sanctions, and counter sanctions by Russia, there is a reduced demand for USD which will otherwise have been used to pay for imports.

Secondly, due to Russia's decision to sell gas to "unfriendly countries" in Roubles, there has been a demand for Roubles by customers purchasing Russian gas so that they can pay for it. Note that Rouble was trading at 85 to the Dollar as at April 1st when the decree came into effect. For the Rouble to keep rising (currently fluctuating between 74-76 to the Dollar), it will mean that despite the public statements by the EU, they have started paying for their gas in Roubles.

Note that daily updates on Rouble trading is available on the Moscow Exchange.
https://www.moex.com/en/

Proudlyomonna:


The effects of sanctions are not something that manifest in a blink of an eye you know

But sleepy Joe said one month when he mocked roubles to be half a cent.

You are on point great analyst

mach7:
Good.

However, from open sources there are two major reasons for this:

1. Reduced demand for USD within Russia
2. Increased demand for Roubles outside Russia

Russia keep fixing the currency and prevent people from buying dollars. Thougher policy and blackage from people accessing foreign currency.

The same thing Nigeria is doing.

Ukraine is still winning regardless- CNN

fineboynl:
Russia keep fixing the currency and prevent people from buying dollars. Thougher policy and blackage from people accessing foreign currency.

The same thing Nigeria is doing.

Russia didn't really prevent people from buying Dollars per se, it was the US that imposed Sanctions preventing Russia from trading externally with Dollars in the first place.

The Russians simply decided to go further by deciding to take out Dollars from internal trade within their borders.

Whoever advised the US government on their Sanctions policy really made a big mistake.

Yes, Russia will be hurt. But they also have strong tools to hurt the Sanctioning countries in return. They are a Natural resources, Commodities and Food Superpower.

Rastaramsey:
If I say I understand this war, I de Cap

ok see it this way biden shot himself in the foot and pelosi has her foot in her mouth , they pushed trump out and couldn't function now , the economy is ruined and the west has turned to Africa to revive itself and sabotage Russia, but Russia is also blessed with minerals rare and common

helinues:
False hope for the Russians. Who have they been trading it with even with the sanctions

Irrespective of what sides you are on, let’s try to be objective and truthful. You have a phone, try and verify. Check the date and time.

skoskosko:

Irrespective of what sides you are on, let’s try to be objective and truthful. You have a phone, try and verify. Check the date and time.

The good part is I don't even support any of the side for this madness.

Just curious if Russia have not been trading or exchanging their products with others due to sanctions, how did Rubble gain that strength?

[s]

helinues:
False hope for the Russians. Who have they been trading it with even with the sanctions

[/s]

Ask the European nations that has increased their Russian oil purchase since the war started!!! Y’all talk anyhow tho!!

come proof it’s false chance

Parachoko:
Very soon, the sanctions will start biting the Russians hard.

Your EU has eaten their vomit!! Lmaoooo

DerrickzB:


Your EU has eaten their vomit!! Lmaoooo

I'm on nobody side.

helinues:


The good part is I don't even support any of the side for this madness.

Just curious if Russia have not been trading or exchanging their products with others due to sanctions, how did Rubble gain that strength?

That was what western media projected. The sanctions have been highly ineffective and self destruct in nature. Pre sanctions, they were selling 1.3mbpd of oil, today it 1.6mbpd. Europe is still buying Russian gas and oil, most payments for energy has been switched to rubble and inter border currencies with the trade countries. They are still the go to nation for agricultural products like wheat, fertilizer etc. Mind you these are everyday consumables. Lastly, the US, EU, Canada and Australia does not make up the entire world. Just 5 nations (BRICS) accounts for nearly 40% of world population. We still have South America, Eurasia, Asia and the Middle East. If you take all these into considerations, you will realize that the gloom picture that western media paints are nothing but lies.

skoskosko:

That was what western media projected. The sanctions have been highly ineffective and self destruct in nature. Pre sanctions, they were selling 1.3mbpd of oil, today it 1.6mbpd. Europe is still buying Russian gas and oil, most payments for energy has been switched to rubble and inter border currencies with the trade countries. They are still the go to nation for agricultural products like wheat, fertilizer etc. Mind you these are everyday consumables. Lastly, the US, EU, Canada and Australia does not make up the entire world. Just 5 nations (BRICS) accounts for nearly 40% of world population. We still have South America, Eurasia, Asia and the Middle East. If you take all these into considerations, you will realize that the gloom picture that western media paints are nothing but lies.

you too much
Teach them

Parachoko:
I'm on nobody side.

Hehehehe.. Una go begin deny now!! Na wa ooo.. Na so una ginger Ukraine finish now una don leave them…