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A comment on Full consensus for disconnecting Russia from SWIFT achieved, process has begun. Parent comment

Re:Full consensus for disconnecting Russia from SWIFT achiev... by mtmail on Saturday February 26, 2022 @06:11PM (#30482987)
Is that a strategy to make money long term or a necessity at this point? I kind of understand stock buybacks companies do but I'm not familiar with currency buybacks.
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Re:Full consensus for disconnecting Russia from SWIFT achiev... by csdreamer7 on Saturday February 26, 2022 @06:26PM (#30483169)
To keep people from selling the ruble and buying dollars and euros because they fear their money will become worthless.

If Russians stop accepting rubles and use foreign currency for transactions, the Russian govt stockpile of rubles, and it's ability to print more rubles, becomes worthless. They will need foreign currency to pay people.

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Re:Full consensus for disconnecting Russia from SWIFT achiev... by from on Saturday February 26, 2022 @06:17PM (#30483041)
It's to keep the exchange rate stable. Although that can't happen if the FX reserves are frozen.
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