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Russian Ruble Tumbles To Record Low Against Dollar
The Russian Ruble has collapsed this morning to its weakest against the USDollar on record. The drop - similar in size to the drop when US and Europe unleashed Sanctions 3.0 - has sent USDRUB to 36.89. Russian stocks are down 2.2% this morning - biggest drop in 3 weeks - and Russian bonds are weaker (10Y +20bps back above 5%). We can't help but think somewhere Shinzo Abe is getting ideas about how to really devalue his nation's currency to competitiveness...
Ruble at record lows against Dollar...
Charts: Bloomberg
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<--- This always ends well.
<--- This always ends
Now, I wonder why "Someone" in the "MArkets" would do that........................??
This will force Russia to sell oil/gas only in ruble :) Checkmate again!
Looks Like US Is Hammering Russia Finances, Low OIL Is Really Hurting Them, And GOLD Being SAT-ON By Large NY Paper Asses...
US is trying to hammer Russia.
All that natural gas denominated in Rubles becomes more attractive as a result.
Only if you got Ruble. The Fed can't print Ruble.
Weak currency is good for exports, not so good for imports.
.
< --- Rubble
< --- Ruble
What difference does it make.......:-)
Thanks Hilary...
Wasn't there a plane shot down somewhere around the Ukraine? For some odd reason that event is slipping from my memory.
The plane in Ukraine swept swiftly from the brain.
The discovery of 30mm Ukrainian jet cannon holes all through the cockpit separated the journalists from the government PR firms. Turns out we don't have any journalists in the MSM.
Wondered why I haven't heard anymore new on that, just googled it and sure enough there is photo's and evidence proving it was shot down with bullets. And they call us conspiracy people crazy. I would say we're awake.
So given a few days with the wreckage, how hard would it be to put bullet holes in it?
Though out of curioisty, how can people identify the origin or nationality of bullet holes?
... the rain in Ukraine falls mainly on the plane ...
How could you forget when just this morning, it was mentioned by an anonymous senior NATO offical?
http://www.zerohedge.com/news/2014-08-28/nato-says-over-1000-russian-tro...
PERTH (miningweekly.com) – The Gold Royalty Response Group (GRRG) has warned that Russia could replace Australia as the world’s second-largest gold producer if it met production forecasts by Gold Industrialists’ Union.
The Russian lobby group estimates that the country could increase its output to some 275 t during 2014, as the industry boosted production by 26.6% during the first half of the year.
GRRG spokesperson and MD of gold miner Silver Lake Resources Les Davis pointed out that gold exploration in Western Australia had dropped by some 50%, as profit margins in the sector continued to narrow.
“The big increase in Russian gold production comes at the same time as gold producers in Western Australia are putting exploration on hold,” Davis said.
Please remind me how much Russian gold is sold outside Russia?
So sorry Vlad. Love, the Dutch.
http://www.nieuws.nl/algemeen/20140814/Nederlandse-professor-zegt-sorry-...
Does anyone know if this is the real deal?
sveral sites have been mentioning this.
Totally not JPM taking retaliation for hacking them
i wouldnt worry about Russia and the Ruble
"RUSSIA added about 9.4 tons of gold valued at $400 million
Russia buys $400m of gold to boost its reserves
(R4.2 billion) to its reserves last month as it expanded holdings for a fourth consecutive month to the highest in at least two decades.
The country’s stockpile, the fifth-biggest, increased to 35.5 million ounces (1 104 tons) last month from 35.2 million ounces at the end of June, data posted on the central bank’s website showed. The amount of gold now held is the most since at least 1993, according to International Monetary Fund (IMF) data.
Russia’s reserves, which overtook those of Switzerland and China this year, have almost tripled since the end of 2005, IMF data show."
http://www.iol.co.za/business/international/russia-buys-400m-of-gold-to-...
How serious is the inflation? Sounds to me like gold isn't keeping the money honest again.
I guess this data would be noteworthy if there were an actual "market" involved. But there isn't. It's all a rigged, centrally planned SHITSHOW.
It's not even entertaining any more.
Sounds like lead and brass are good plays.
It just makes all their nat gas more appealing.
Not sure if anyone here remember the Russian economical crash of 1990s, if that was about to happen again....
That was on Yellsens watch, Putin is most certainly not Yellsen. I believe the power brokers in Russia (the ones left) put Putin in there for that very reason.
Ruble exchange rate against other currencies is probably a more accurate indication.
Wow, good thing we have the new silver fix...nice to know it has gotten slammed 3 days in a row on the US open, erasing all prior gains in the asian markets. By all means rush into the safe haven of the dollar, the ultimate dash for trash.
This isn't that big of a deal and we've come to expect a gradual decline in rub/usd. However, this is a short term phenomenon. Long term the ruble will become very strong and the dollar will collapse.
Russia has been dumping US Treasuries so why would they care?
The United States is no longer a big exporter and the things they export Russia does not need.
US has only 17% of the worlds exports when they were at 50% only 40 years ago.
The Ruble has not weakened against other currencies especially the Euro.
Weak article that is a shame to have on Zero Hedge
YES. I just checked the 1 yr chart EUR/RUB. Nothing to get excited about.
I just checked and EUR/RUB and USD/RUB charts look the same to me. Down against both.
Many European countries have operations in Russia like Mercedes Benz which owns
25% of Kamaz. So that commerce trade would make the Euro more stable in Russia
but not weaken the ruble.
US trade with Russia is and WAS weak for decades so the Ruble / US Dollar trade means little.
Russia has 70% of the worlds UNDEVELOPED EASY OIL reserves and is #3 in
production of Easy Oil behind Iran and Saudis.
US in relation basically has NO EASY OIL REMAINING.
They are a chicken with their head cut off. Its called desperation because Fracking and Shale oil costs 4 TIMES THE COST TO PRODUCE EASY OIL.
Its the end of the US PETRODOLLAR.
Many European countries have operations in Russia like Mercedes Benz which owns
25% of Kamaz. So that commerce trade would make the Euro more stable in Russia
but not weaken the ruble.
US trade with Russia is and WAS weak for decades so the Ruble / US Dollar trade means little.
Russia has 70% of the worlds UNDEVELOPED EASY OIL reserves and is #3 in
production of Easy Oil behind Iran and Saudis.
US in relation basically has NO EASY OIL REMAINING.
They are a chicken with their head cut off. Its called desperation because Fracking and Shale oil costs 4 TIMES THE COST TO PRODUCE EASY OIL.
Its the end of the US PETRODOLLAR.
You moron
ruble is higher against the Euro in the last 6 months
No reaction to the meaningless Us sanctions
0.0206 today
0.0196 over 5 months ago
52wk Range:0.0196 - 0.0235
You moron
ruble is higher against the Euro in the last 6 months
No reaction to the meaningless Us sanctions
0.0206 today
0.0196 over 5 months ago
52wk Range:0.0196 - 0.0235
Not when you consider a Yuan variable .
Euro has weakened against a Yuan / Ruble variable
Look it up
Not when you consider a Yuan variable .
Euro has weakened against a Yuan / Ruble variable
Look it up
Russia has been dumping US Treasuries so why would they care?
The United States is no longer a big exporter and the things they export Russia does not need.
US has only 17% of the worlds exports when they were at 50% only 40 years ago.
The Ruble has not weakened against other currencies especially the Euro.
Weak article that is a shame to have on Zero Hedge
The Squid at Treasury is shorting the Ruble.
Yesterday's deal between Russia and China.
Made someone pout and cry to mommy Soros.
Big tit Soros and his sour milk.
War is not about guns and bullets, war is about breaking your enemies will and spirit. Putin is serious about this and everybody else is thinking it's a game to be played. The Russian army really isn't that great but Europe has been relying on the US to protect it for decades and haven't bothered to build a capable defense themselves. They are about to find out just how feckless Obama truly is and it will be a painful lesson.
BTFD
Whos to say the dollar lost more of its value and it is just taking more of it to equal a Ruble?
A small short-term price to destroy the fiat, fake, fraud, fiction, fantasy, fractional-reserve ponzi-debt bitstorm known as the "dollar" and "reserve currency". Since most westerners only see or think short-term, westerners can celebrate their short-term micro-win while those who think longer-term celebrate their longer-term mega-win. That is, unless they end up vaporizing everyone, which seem increasingly likely.
In the long term - my moneys on Russia.