Quote:
Originally Posted by Slava
The Rouble/USD exchange is currently about 200/1. For some context, when there was a huge crisis for Russia in 1998, the rates shot up from ~6 to ~24. The forex markets open later today, but that’s going to be a bloodbath for sure.
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A little more colour, for anyone interested...
The Ruble is working from a base of about 75 this time. It slipped as low as 90 on Thursday, and closed Friday at 84. To state it in US dollar terms, the Ruble closed Friday being worth about 1.2 cents US. If it opens at 200, that would mean it is worth 0.5 cents
To put that in perspective, the CAD currently trades at about 1.275, meaning it is worth about 78.4 cents US. A similar devaluation would see it go to about 3.035, making it worth about 33 cents US.
Will be very interesting to see where it opens and how it trades