Russian ruble turned to rubble; now worth 1 US cent

[F-22Raptor]

 

[epebble]

Numbers by themselves are meaningless. Many currencies are worth less than a cent.
JPY = 0.69 C
Korean Won = 0.075 c
Indonesian Rupiah = 0.0066 c
PKR = 0.35 c

 

[jamal18]

Russia is now the fifth largest economy in the world, and the largest in Europe.

It is in growth, unlike some European countries that are now in recession (negative growth).

 

[Viet]

Russia is now the fifth largest economy in the world, and the largest in Europe.

It is in growth, unlike some European countries that are now in recession (negative growth).

Russia economy is about the size of the Netherlands. Moscow, St. Petersburg are only two metropolitan with high living standard. The rest is very poor. For example, Tula is said has $140 GDP per capita.

However Tula is not considered as poor. Russia recently changed the definition of poverty. Because Tula has the same living standard with immediate regions which are poor too, so Tula is not poor.

Overall Russia economic data is not reliable. IMF, world bank and other institutions have no access to raw economic data at all.

 

[Nasr]

View attachment 945366

There are 32 TRILLION reasons why America is and shall burn to the ground. Gloat all you want about the Ruble, but guess what, no matter what you try to destroy Russia .... you have failed miserably and will be humiliated in your failures the harder you try.

The clock is ticking, you have not got much time left now.

 

[StraightEdge]

Muh sanctions!

Russia’s War Economy Is on Course to Recover From Sanctions Hit - Bloomberg

• GDP expanded 4.9% in second quarter, topping most forecasts
• Russia faces growing labor shortage amid military recruitment

 

[MeFishToo]

Russia is now the fifth largest economy in the world, and the largest in Europe.

It is in growth, unlike some European countries that are now in recession (negative growth).

Remember Russia provides those magic growth numbers while waging an information war against foreign sanctions and support for Ukraine. Its not like the IMF can control those numbers. Russia being part of IMF means they have to publish an estimate based on what Russia provides.

 

[F-22Raptor]

Muh sanctions!

Russia’s War Economy Is on Course to Recover From Sanctions Hit - Bloomberg

• GDP expanded 4.9% in second quarter, topping most forecasts
• Russia faces growing labor shortage amid military recruitment

After 4 straight quarters of contraction

 

[aziqbal]

by the same definition the Turkish economy must be in rubble too?

After 4 straight quarters of contraction

oh please the entire World has Russia under sanctions even BMW and Mercedes are not delivering spare parts to Russia and toy manufacturer in US too

and you expect economy to do double digit growth?

many Western economies like the UK are suffering worse much worse and even we dont have sanctions on us

so give Russia some time please

 

[Foinikas]

So let me see some of you guys here investing in Russian Ruble. Why not go to the bank or an exchange store and buy some hundred dollars worth of rubles.

Oh,you only wanna invest in dollar,euro,pound and swiss franc?

 

[TruthSeeker]

Considering the forest instead of the trees, most "honest" people would say that Russia would be an order of magnitude better off, economically, if it concentrated on improving its civil society and economy instead of invading neighbors. Russia's behavior is the very definition of an unhinged authoritarian state run by an egomaniac. There is no way the Russian people would ever have chosen to invade the Ukraine if they were asked. It is amazing how so many people can be harmed by the actions of just a couple of men, such as Vladmir Putin and Kim Jong Un. It is beyond sad that there are members of this forum that defend what Putin is doing to his people.

 

[StraightEdge]

After 4 straight quarters of contraction

It is a big deal if Russia is growing faster than EU even after waging a war + countless sanctions against all possible obstacles.

 

[MeFishToo]

It is a big deal if Russia is growing faster than EU even after waging a war + countless sanctions against all possible obstacles.

Producing ammunition and armor plus paying hundreds of thousends taking this equipment to Ukraine to be destroyed counts as positive for russian GDP. But in reality it does nothing for russian economic growth.
Russia is not growing faster than the EU. Putin can provide whatever numbers he may chose. Thats how it works in an authoritarian state.

 

[AViet]

Appreciation of the US dollar may not be a good sign to long term US economy, same as depreciation of Russian ruble may not be a bad sign to Russia's economy.

Yesterday a 2 year-old Vietnamese EV company was valued more than GM or Ford on Nasdaq, which shows how crazy the world is now. I am not feeling happy at all as a Vietnamese, just weird. Everything can be upside down just within 6 months.

 

[Broccoli]

If Russia is doing so great why ruble is so weak even after Russian use all measures possible to keep it stronger? This war costs Russia billions each day and doesn't include losses caused by workers who are now dying in Ukraine.