Posted on Aug 14, 2023
Russian ruble slumps to near 17-month low, moves past 100 against the dollar
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Early August 2023: Russian ruble faces near-similar level of devaluation from when the Kremlin ordered the invasion of Ukraine.
Russian ruble slumps to near 17-month low, moves past 100 against the dollar
Posted from cnbc.com
Russia
Finance
Money
Posted 10 mo ago
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LTC Eugene Chu
"The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia’s economy from Western sanctions and a slump in export revenues. The Russian currency has lost nearly 40% of its value this year, weakening past 100 rubles to the dollar, as Moscow’s war in Ukraine takes a heavy toll."
"The ruble hit a 17-month low against the dollar Monday, highlighting the growing squeeze on Russia’s economy from Western sanctions and a slump in export revenues. The Russian currency has lost nearly 40% of its value this year, weakening past 100 rubles to the dollar, as Moscow’s war in Ukraine takes a heavy toll."
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SGT Stephen Rowland
The value of $100 in 1971 is equivalent to $752.13 in 2023, with an average annual inflation rate of 3.96%. The inflation rate in the United States between 1971 and today has been 652.13%, resulting in a total increase of $652.13. By calculating the value in 1971 dollars, $1 is worth less over 52 years, and over 50 years, based on the 653.36% change in prices.1 The value of $1.00 in 1971 is equal to $7.46 in 2023, with an annual inflation rate of 3.94%. The Bretton Woods system of fixed exchange rates established at the end of World War II marked the beginning of the end for this system.
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https://www.newsweek.com/russias-economy-forecast-outperform-us-within-two-years-1777788
Strong dollar hurts US exports and economy. Grabbing one headline and thinking it’s hurting Russia is
Very shallow. Don’t forget that the war was going to be over in two weeks, oops two months, oops. Russia a gas station without an economy. How unrealistic have our leaders have been and continue To be. Are we really going to fight Iran, in Niger, China, and support Ukraine at the same time. I truly imagine if you resided East Palestine, Ohio, & now Maui, where is the great mobilization, with
Equipment, money that flew to Ukraine in record time.
Strong dollar hurts US exports and economy. Grabbing one headline and thinking it’s hurting Russia is
Very shallow. Don’t forget that the war was going to be over in two weeks, oops two months, oops. Russia a gas station without an economy. How unrealistic have our leaders have been and continue To be. Are we really going to fight Iran, in Niger, China, and support Ukraine at the same time. I truly imagine if you resided East Palestine, Ohio, & now Maui, where is the great mobilization, with
Equipment, money that flew to Ukraine in record time.
Russia's economy forecast to outperform U.S. within two years
The International Monetary Fund reported that Russia's GDP would be over 2 percent in 2024, with the U.S. seeing 1 percent growth that year.
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