RUSSIAN Ruble Crashing

Video Summary

The Russian Ruble has been experiencing a significant decline in value, falling from 83.5 to the US dollar in June to over 97 today. This is a 16% decline, which is a complete collapse of the currency. The Russian Central Bank’s attempts to support the ruble are failing, and the value of the currency continues to fall, making it difficult for Russia to import goods and services. The country’s cash flow crisis is deepening, as seen in its recent deal to trade with Pakistan, which involves bartering for goods such as potatoes and rice. The ruble’s decline is also fueling inflation, which has risen to over 9%, and the Russian Central Bank has been forced to raise interest rates to 19% to combat this.

The Russian economy is facing a major crisis, and the future looks uncertain. The country’s exports, such as oil and gas, are being sold in currencies other than the ruble, which is limiting the benefits of a currency devaluation. The decline in tourist visits to Russia is also a significant blow, as the country is not a major tourist destination. The Russian Central Bank is focusing its efforts on controlling inflation, but it is a difficult task, as the bank is struggling to control the value of the ruble. The cash flow crisis in Russia is expected to continue, and the future of the ruble’s value is uncertain.

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