RUSSIAN Ruble Collapse Accelerates
Video Summary
The value of the Russian Ruble has been declining rapidly over the past 2.5 years, causing significant problems for the Russian economy. The Russian Central Bank has been buying rubles to keep the value up, but it has now run out of cash due to increased sanctions and decreased exports. As a result, the value of the ruble is now deteriorating against other currencies, including the US dollar, Chinese Yuan, and Indian rupee. This is causing issues for Russian companies, who are struggling to convert foreign currency earnings back into rubles and are therefore losing money due to the falling value of the ruble. The decline in value is also making it difficult for the Russian government to keep the economy afloat, with inflation rising and interest rates increasing to try to combat the problem. The value of the ruble is now on the verge of falling below 100 against the US dollar, which could have significant implications for the Russian economy and the overall global economy.
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