Russian Ruble today
 

USD/ RUB - almost + 10 % !!!

craziness....
63 RUB to 1 USD....while usually it was around 30.....

their money is under attack

Now you can buy two bottles of rot gut vodka!

Damn - Brian is going over soon - I wonder what local prices are doing...

money is the motion, along with BUK system:winkwink:

How is the movie industry in russia ?

And I really love it :thumbsup :thumbsup :thumbsup

Nope. They are in motion along with the oil prices.

http://static1.businessinsider.com/i...rent-oil-1.jpg

Today it's only about $60 for a barrel :winkwink:

Local prices are the same (yeah, almost). So literally, my earnings in rubles have increased almost twice comparing to the end on 2013. Time to buy a new car for my wife :pimp

It will come back up

What are prices doing? - Brian sends money to Russia for his family and thinks this is bad for him - I can't see why unless inflation has gone nuts as well...

I was even thinking he should send a big amount over while it is like this.....

EDIT: Thanks - You seem to have answered my question already...

As I said above, they (the local prices) weren't changed a lot (the overall inflation rate is about 7%..8% for 2014 in Russia).

Central bank gave about 650B roubles credit to Rosneft last Friday after markets had got closed. It seems like today Rosneft just exchanged the money into USD and Euro for quick profits. Just as planned.

upd and no, local prices are not the same. Prices for low-end food (and red and black caviar too), and clothes are in line with 7-8% of inflation. Some bacon of good quality and some other processed food got 50-100% up in price, that's the things I used to buy and though my income is in USD so in theory I can buy it as easy as before, it's still hard for me to adapt to the new price tags. Electronics are about 10-15% more expensive, but retailers still sell goods from old contracts, when they get new deliveries it will be even more expensive. Cars are still sold for more or less old prices, real estate too.

the question is: until when ? how many weeks more ?

We already had a similar situation in 1998 and 2008. The simple answer is not too much and not so fast. In 2000 (two years latter of 1998 financial crisis) you could buy 2-room apartments right near to Kremlin (10 minutes of easy walking) for only $75,000. A year ago the price for it was about $1.2 millions. Now it will drop down again for years (I hope...) :winkwink:

Hm what's the long term trend here? Maybe it's time to buy some ruble's?

Putin's a cunt, but he's not stupid - If I had enough money to invest I would think about it...

Cool thread, bumping

You are wrong. He is very stupid. I think he has some kind of senility + he is a scoundrel and a coward.

Food Prices Surge As Panicked Russians Empty Their Bank Machines Of Cash

Price Inflation In Russia As People Hoard Food, Cash - Business Insider

Pork and sugar have risen by 25%, while the price of fish and seafood has also leapt up by more than 15%

http://static1.uk.businessinsider.co...omberg%202.png

http://static5.uk.businessinsider.co...omberg%209.png

it's a war

stupid swiss franc

Nope, they didn't. Risen of course, but not that much.

A very good picture which explains it all. No additional words needed.

The top oil producers and their currencies against the US dollar

Saudi Arabia

http://www.lotsageeks.com/p/sar.png

Canada

http://www.lotsageeks.com/p/cad.png

Russia

http://www.lotsageeks.com/p/rub.png

Russia has enough foreign cash reserves stashed to prop up the local economy for 4.3 years. But prepare for stagflation if this oil price depression lasts a year or more.

Good news is gasoline is $2.20/ gallon today here I just went out for a bit :) Merry Christmas :thumbsup

Average auto owner will save $1,000 +- a year on fuel costs :2 cents:
This goes right into the consumer economy engine here instead for foreign oil producer's pockets.

Don't forget about new rule, where Europe takes Russian money in bank transfers, and holding it, until Russia and Europe make new deal...

Sanction to brake system

Hint: the production volume. You can use it to control your currency rate :winkwink:

You used to be able to - I think this is happening because people are starting to realise that the US is less reliant on imported fuels...

F Russia anyways.

Sweet, I'm now a millionaire in Russia. Only cost me 50 bitcoins.

F your mom. Any days :)

I hope you don't have a mortgage...

If you have savings then congratz.....

I don't of course. The apartments, cars etc were bought for cash. We've never took any credits for anything.

Especially if they are not in rubles :winkwink:

P.S. I will win even in taxes. I have to pay 6% from my earnings. Since I pay in rubles and only on every next year, it's being calculated by the current rate on the date when money came to the bank. For example, I earned $$$ in January 2014 when the rate was about 32 rubles for 1 dollar. So the tax for it in 2015 will be calculated as $$$ * 32 * 0.06 and it doesn't matter what rate will be on the date when I'll physically do the tax payment (even if one million rubles for a dollar :winkwink:)

it is craziness, today +12 %... 71 RUB to 1 USD

i bet that some hedge funds (guess the country) are making good money on that.....

Russia Defends Ruble With Biggest Rate Rise Since 1998 - Bloomberg

INDEXCF Quote - MICEX Index - Bloomberg

They are predicting severe recession

The MICEX seems to care less about this rate rise. When there was economic turmoil in the USA -- fall 2007 and early 2008, the stock and bond exchanges had a severe contraction. Maybe, the credit market in Ruble denominations means little to big business in Russia?

Today it's 51,99 rubles for 1 USD, and the dollar still goes down. This is not good at all :(

Hey fuckin' Obama, where are your fuckin' sanctions, ah?

:1orglaugh

The word on the street (Wall Street) is that the big investors and hedge funds are using this sell off to take BIG positions in Russia.

The thing is Russia position is not really that bad, and all expectations are that oil is up next year so how long can it be a bad outcome? I can't help but think that Obama is making a boo boo here, as Russia is still one of the largest energy producer in the world and all that's happened is that Russia is being driven away from the petrodollar.

The US badly NEEDS the petrodollar. Now, some people will mistakenly say "oh your anti-US and all that" but I have to face facts, many of the top Russia analysts are seeing the same thing.

Is Russia winning the "Colder War?" | Watch the video - Yahoo Finance

"Russia Increases Key Interest Rate to 17%" ????

17% yield ?
At this rate it makes russian bonds highly speculative.
Putin will probably try to blackmail the world's economy with a risk of default (france is playing the same game with Switzerland, "too big to fail") and i bet that this is probably what is going to happen. I hope that russia's agriculture is totally selfstanding.

why? brainwashed much?

Of course, few people remember that around 1980 US interest rates reached 20%. No big deal if you look at record rates around the world at times of market stress. Today the ruble is recovering quite strongly but mind you, remember that the energy companies earn foreign currencies and a lower Ruble actually means a lower cost of production (so its not all bad).

now imagine the inflation that you need to handle that...
Also the dollar has a special status...

If the fund rate is high, then it's harder for the russian banks to borrow money (more expensive at the russian central bank), so it's going to shrink the economy and that can generate a deflation that can block the economy.

If the fund rate is high, then it's easier for the russian central bank to borrow money outside of the country since it pays more. But if the russian economy is going to shrink, then it's gonna be harder for russia to reimburse its debt.

I guess that the outcome is also partially based on russia's real strength...

Well inflation is due to the weak Ruble and is a lagging indicator so early next year the inflation figures will no doubt be over 10% but so what? Many economies have had higher than 10% inflation for many years.

Russia might just get a year of high inflation. The top of Ruble weakness is over so inflation should moderate after that.

As for special status ie Reserve Currency Status, Obama & co and doing "everything they can" to destroy that. Both Russia and China are ditching the dollar big time:

VANNESS: Russia, China preparing to eliminate our reserve currency status - Washington Times

It's a shame because they could have kept that going for a long time. Russia and China would have just played along but Obama (and the neo cons) have wrecked it. Infact all the major emerging markets are ditching the dollar.

It'll take a very long time for the dollar to lose that status but its happening as we speak.

if russia has to buy its goods outside the country

I agree :thumbsup