Global News
What is global news?
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Title format
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URL format
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[Opinion] prefix
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Country prefix
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Ironically the USD:rouble rate is rising the last several days.
The rubles "value" is not very predictive of its real value because no one uses it. It's like if I print and exchange "Valmonds" with my friends for 10€ a piece (having my "central bank" buying them back for 10€50 to keep "the price" high), doesn't make them actually valuable.
Afaik RUR was following the oil price quite closely for many years until 2022, seeing as oil exports dwarfed everything else. Since then, the Central Bank of Russia did a lot of trickery to control the rate. However, the rate was pretty stable for weeks at ~70 rub/usd, after USD:RUR has fallen a bit — until the last few days, precisely when oil price should've risen, and idk what caused that. It's jumped to 84 rub/usd in about four days.