The futures market paints a similar picture, so people don’t think it’s short term either.

I’m actually quite surprised. It’s fair to assume sanctions would harm businesses, so what’s changing the price of the Ruble?

Edit: It’s the gas (No paywall)

What’s become clear is that despite an incredibly wide-ranging package of sanctions on the Russian government and its oligarchs, and an exodus of foreign businesses, the actions are largely toothless if foreigners keep guzzling Russian oil and natural gas – supporting the ruble by stocking Putin’s coffers. Even as Russia remains mostly cut off otherwise from the global economy, Bloomberg Economics expects the country will earn nearly $321 billion from energy exports this year, up more than a third from 2021.

Then again, it may not happen in the very near future, but it shall happen.

that’s great news honestly 🥳

i don’t have any savings, but some of my friends do, and ppl seeing their savings basically halved within a few days were devastated, and anxiously wondered whether they should rush to convert to usd or euros to mitigate at least some of the losses

i obviously didn’t know how things would turn out, but said that they should probably hold on, bc buying at like 110-120 per usd would be awful, but it didn’t really seem that crazy at the time, bc there were massive lines to get cash (both roubles and usd) at atms, and ppl speculated roubles per usd would reach 200 or smth crazy like that

there is still the issue that a lot of things basically skyrocketed in price, which is a massive problem, but at least it’s not compounded by shitty currency conversion rates 🤷‍♀️

Ah how the turntables