And We Have Liftoff! The Russian Rubble

Well, it’s finally happened. The Rubble has started its long-expected crash. I used an earlier graphic from the day because it was impressive. But this is the data at the end of the trading day. And this, it has significant implications for Russia:

The euro to Russian ruble exchange rate reached 120.72 rubles, and the dollar to 114.50 rubles

In addition, the yuan exchange rate on the Moscow Exchange exceeded 15 Russian rubles. This happened for the first time since March 29, 2022.

This is separate from the American experience since we live as the reserve currency. If you decide to be stupid and go on vacation to Moscow, you could stay at a much more expensive hotel. Yes, your dollar will go much further, even at the bank. I am positive the black market would yield you even more rubles per dollar. In situations like this, the black market flourishes because people want to have dollars at home, under the mattress, as it were. It’s safer than the rubble.

So here are some of the consequences according to Important Stories:

The ruble is flying down, the euro and dollar rates are breaking records since March 2022. Is the economy bursting at the seams or will Nabiullina save everyone again? We explain together with an economist

The dollar exchange rate…