QuantumInteger t1_j1zvvxr wrote on December 28, 2022 at 5:19 PM

Reply to comment by vrenak in New sanctions starting to bite Russia’s economy as Moscow admits deficit impact by Minezenroll

Aren’t their stock market, especially their forex market, still closed? At this point, it’s just artificial currency control propping up the economy.

axonxorz t1_j1zxjbw wrote on December 28, 2022 at 5:30 PM

Since the start of the war, all the Putinites are all over "but the ruble is the strongest it's ever been"

Then I say, please show me an FX trade you've made at that rate.

"wdym?"

Moscow doesn't even inform the bot farms of the whole picture. Can't risk have the rubes learning how to trade like the rich.

vrenak t1_j1zyctw wrote on December 28, 2022 at 5:36 PM

Yeah, it's so controlled it has no connection to reality.

CaseyTS t1_j20g9la wrote on December 28, 2022 at 7:33 PM

Iirc, they somewhat function but it's very difficult to sell russian securities, especially as a foreigner. And ruble forex trades are strictly controlled by the government. Yeah, it is artificial for appearances. They have to look strong in order to get Ukraine to surrender, and outlasting Ukraine is their only card except using nukes.