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Rouble, euro plunge after West steps up Russia sanctions; yen gains (New Record low for Rouble in early Asian trading)
Reuters ^ | 2/27/2022 | Reuters Finance

Posted on 02/27/2022 3:11:25 PM PST by marcusmaximus

The Russian rouble plunged nearly 20% to a new record low versus the dollar on Monday and the euro sank more than 1% after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, including blocking some banks from the SWIFT international payments system. read more

The risk-sensitive Australian and New Zealand dollars also tumbled, while the safe-haven yen rallied as Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert on Sunday, the fourth day of the biggest assault on a European state since World War Two.

The euro declined 1.15% to $1.1140 in early Asian trading, on track for its biggest one-day decline in nearly two years.

The rouble was indicated as low as 104 per dollar , a more than 19% tumble.

(Excerpt) Read more at reuters.com ...


TOPICS: Australia/New Zealand; Germany; Japan; News/Current Events; Russia; United Kingdom
KEYWORDS: asia; australia; emmanuelmacron; euro; europeanunion; france; germany; globalmarkets; italy; japan; nato; newzealand; paris; putinfail; putinworshippers; reservecurrency; rouble; russia; stockmarket; swift; ukraine; ukrainewar; unitedkingdom; war; weakbideninviteswars
The Russian rouble plunged nearly 20% to a new record low versus the dollar on Monday
1 posted on 02/27/2022 3:11:25 PM PST by marcusmaximus
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To: marcusmaximus

“The Russian rouble plunged nearly 20% to a new record low versus the dollar on Monday”

Not a huge deal for Russia, as they import very little, at least relative to the US and Europe.


2 posted on 02/27/2022 3:14:07 PM PST by BobL (I eat at McDonald's and shop at Walmart, I just don't tell anyone.)
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To: marcusmaximus

It’s time to deport all Russians regardless of their visa/immigration status.


3 posted on 02/27/2022 3:14:14 PM PST by rrrod (6)
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To: BobL

4 posted on 02/27/2022 3:15:24 PM PST by marcusmaximus
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To: marcusmaximus

So when did we change the English spelling of “ruble?”


5 posted on 02/27/2022 3:36:58 PM PST by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: rrrod

Stupid statement!


6 posted on 02/27/2022 3:41:26 PM PST by StayoutdaBushesWay (Trust in the Lord with all your heart, and lean not on your own understanding)
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To: BobL

China keeps a loose yuan peg to the dollar, so any Russian buying from China would make those prices higher.


7 posted on 02/27/2022 3:44:15 PM PST by BiglyCommentary
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To: BiglyCommentary

“China keeps a loose yuan peg to the dollar, so any Russian buying from China would make those prices higher.”

Yep, I was thinking about it. I suspect that just about everything Russia does need is available from China.

So I looked it up - $42B worth of imports. So if the cost (in Rubles) goes up to say $60B, then it’s an extra $18B per year. Real money, but not much on for a country like Russia, with $600B in reserves...and even the $18B is over 1 year. This is much more likely to be resolved within a month.


8 posted on 02/27/2022 3:50:44 PM PST by BobL (I eat at McDonald's and shop at Walmart, I just don't tell anyone.)
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To: marcusmaximus

People say China will soon have the reserve currency, yet everyone still floods to US dollars for safety. Yes, our debt and childish irresponsible leaders and Fed bank are hurting us, but we are still #1. China is an authoritarian state that can’t be trusted. Who is going to trust them not to abuse reserve currency status. They would ruthlessly abuse that status till the cows come up.

The dollar is still King. A weak shrinking king, but still king.


9 posted on 02/27/2022 3:57:39 PM PST by Freedom_Is_Not_Free (America -- July 4, 1776 to November 3, 2020 -- R.I.P.)
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To: marcusmaximus

It feels like WWIII.


10 posted on 02/27/2022 3:58:01 PM PST by Freedom_Is_Not_Free (America -- July 4, 1776 to November 3, 2020 -- R.I.P.)
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To: Freedom_Is_Not_Free

“It feels like WWIII.”

Not yet, but getting closer of course. Don’t get fooled by extreme headlines, the Ruble drop will barely be noticed by Russia and the Euro/Dollar/Gold movements are well within normal daily changes.


11 posted on 02/27/2022 4:08:01 PM PST by BobL (I eat at McDonald's and shop at Walmart, I just don't tell anyone.)
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To: marcusmaximus

Let’s see:

Peking => Bejing
bum => homeless
negro/colored => black => Black
sex => gender
pervert => gay
Kiev => Kyiv
nature =>”global warming” => “climate change” (covered either way)
violent riot => mostly peaceful demonstration
minor riot => insurrection
American patriot => white supremist
violent felony => misdemeanor
“honk-honk” => Heil Hitler
A-OK sign => sigh of white supremacy

Ain’t things so much better off when the media let’s the woke define things?

Feel free to add to the list.


12 posted on 02/27/2022 4:14:34 PM PST by libertylover (Our BIGGEST problem, by far, is that most of the media is hate & agenda driven, not truth driven.)
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To: marcusmaximus

That means they Russians will really rake in the money when they sell oil and gas for dollars to Europe and the United States.


13 posted on 02/27/2022 4:17:16 PM PST by WMarshal ("No war for communism")
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To: marcusmaximus

Welcome to Free Republic, Comrade. You’re so enthused about this whole war thing. It would be kind of cute if it didn’t feel so forced.


14 posted on 02/27/2022 4:58:54 PM PST by perfect_rovian_storm
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To: perfect_rovian_storm

I’m enthused that Putin’s spinal cancer is spreading and the chemo and steroids aren’t working.


15 posted on 02/27/2022 5:02:37 PM PST by marcusmaximus
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To: marcusmaximus

The only thing spreading is the BS propaganda you’ve been posting here. It’s starting to stink. People are noticing.


16 posted on 02/27/2022 5:05:58 PM PST by perfect_rovian_storm
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To: perfect_rovian_storm

Ok. Putin doesn’t have spinal cancer and it hasn’t metastasized and the chemo and steroids aren’t working and he isn’t sitting at those ridiculous big tables because he’s immunocompromised as hell and the clock isn’t ticking.


17 posted on 02/27/2022 5:12:53 PM PST by marcusmaximus
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To: marcusmaximus

Wait till the sanctions really pound Russia in the coming weeks.

Russia is poor and getting poorer. South Korea now has a bigger economy. Putin is an idiot, tinpot little czar wannabe, we should pay China to take him out. lol


18 posted on 02/27/2022 5:34:16 PM PST by baclava
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; BraveMan; cardinal4; ...
Quick, in with the "US dollar is doomed" and "Russia and China are forming a new reserve currency".

19 posted on 02/27/2022 5:48:53 PM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: baclava

Guess your reality pills haven’t arrived yet from the pharmacy.


20 posted on 02/27/2022 8:21:34 PM PST by No_Mas_Obama
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