These articles on the Russian ruble being the "strongest" currency are economically illiterate.

2개월 전


Russia has artificially propped up the ruble with extremely strict capital controls. It has forced exporters to convert revenues to ruble. Sanctions have led to a dramatic drop in imports. The central bank has aggressively intervened to appreciate the currency. The ruble's strength is an illusion belying the precarious state of the Russian economy.

Inflation right now is out of control in Russia. Significantly worse than the US's inflation. Its economic growth is forecasted to contract. Russia energy revenues are up due to the increase in the price of energy, but output is expected to contract and future bans are on the horizon. They are currently selling their energy at steep discounts relative to the global market prices due to the geopolitical stigma.

I would not want to be living in Russia over the foreseeable future from an economic standpoint.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!