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submitted 3 weeks ago* (last edited 3 weeks ago) by MicroWave@lemmy.world to c/world@lemmy.world

Summary

Russia’s ruble has plunged to its lowest level since March 2022 following new U.S. sanctions on Gazprombank, a key platform for energy payments.

The ruble’s slide, driven by sanctions, falling oil prices, and soaring defense spending, has intensified inflation and strained the war economy.

While the Kremlin benefits from a weaker ruble by converting foreign revenues into more domestic currency, experts warn of overheating risks and financial instability.

The Russian central bank is scrambling for solutions, but long-term economic pressures and declining oil revenues pose significant challenges.

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[-] Korne127@lemmy.world 8 points 3 weeks ago

Saying +10% in about four months is technically correct, but very misleading

[-] GiveMemes@jlai.lu 19 points 3 weeks ago

This is an unlabeled graph and ambiguous comment. What are you saying? That the ruble is doing better than he is claiming compared to the euro, or worse?

[-] Korne127@lemmy.world 12 points 3 weeks ago

The main part of the change happened in just a few days - weeks, and not over four months.

[-] kerrigan778@lemmy.world 0 points 3 weeks ago

This is my data as per the article in question showing fairly gradual rate of change starting from a dip roughly in July this year. Not sure where your data is from?

[-] FlowVoid@lemmy.world 4 points 3 weeks ago

Your screenshot is out of date.

[-] kerrigan778@lemmy.world 3 points 3 weeks ago

Ah, see that's much more interesting, don't know why that data isn't in the article.

[-] jagged_circle@feddit.nl 1 points 3 weeks ago

Why not tell us where your data is from?

[-] kerrigan778@lemmy.world 3 points 3 weeks ago

I did, it's literally a screenshot from the article we're discussing.

this post was submitted on 30 Nov 2024
454 points (95.0% liked)

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