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Ruble = rubble
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this post was submitted on 23 Nov 2024
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Keep in mind that the y-axis starts on 2.3. The hryvnia has "only" increase by about 8% compared to the ruble. Good to see, but it's a far cry from a collapse yet.
In 1 month, 8% is massive, especially since Russia has increased central bank interest rate to 21%. While Ukraine has lowered theirs from 16 to 13 this year.
Counterpoint, it's only been two weeks 🙃
Absolutely, the past 2 weeks were the really bad ones. I just went with the scale of the graph.
I believe it's lost about 22% in value against major currencies since August (USD, Yuan).
It's just about back to its March 2022 low before they introduced the capital controls and interest rate rises. So basically they've now pissed away all the central bank's work to stabilize the currency.
Magnificent.
You love to see it
Might be true! I'm only saying that this specific graph is a bit misleading. Love to see it any way!
It may seem misleading to you, but that's how currency and stock graphs are shown.
I know! But to lable it "collapse", when that's not what the graph shows, seeing where the y-axis starts, is still a bit misleading. It's bad, but not collapse bad yet.