Russian currency to dollar
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jonnyfrank
- Junior
- Posts: 265
- Joined: Sat Oct 17, 2020 11:39 am
Russian currency to dollar
How meaningful is the ruble to USD exchange rate in the grand scheme of things?
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SOL
- Power VS Force
- Posts: 3267
- Joined: Sat Sep 26, 2020 7:32 am
Re: Russian currency to dollar
For now, it's not a big deal. On a different note, Russia’s shift of its reserves from dollars to gold looks quite smart. They bought huge amounts of gold before its value soared. More and more countries are trading outside the Western banking system. Even though they still use dollars, they’re avoiding Western banks.
This causes two main issues. First, Western banks lose out on profits from these transactions. Second, they have no way of tracking the volume of trade happening outside their systems. Without this data, it becomes much harder to make accurate predictions. If this trend continues, Western institutions will struggle to make reliable forecasts as they lose access to vital information.
This causes two main issues. First, Western banks lose out on profits from these transactions. Second, they have no way of tracking the volume of trade happening outside their systems. Without this data, it becomes much harder to make accurate predictions. If this trend continues, Western institutions will struggle to make reliable forecasts as they lose access to vital information.
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The end is always near; its the beginning and how you live each moment that counts the most
The end is always near; its the beginning and how you live each moment that counts the most