Re:US quietly urges more use of Russia fertilizer to ease fo...
by andruby on Tuesday June 14, 2022 @03:16PM
(#31744564)
“Set its value at X”. There is no nob or “setting” to do this.
There are plenty of Forex exchanges trading RUB for any currency. Including USD, EUR and others. Governments don’t have control over all exchanges so they can’t set the price. The price is determined by supply & demand (ie: the market). Governments do have some levers they can use: buying or selling reserves to put up or downward pressure on the market price.
To limit trading of a currency you’d have to limit exchanges to any other currency. If you limit RUB-USD for example, people could still trade RUB-EUR and EUR-USD, thus still creating a defacto RUB-USD pricing.
Re:US quietly urges more use of Russia fertilizer to ease fo...
by lawxls on Tuesday June 14, 2022 @03:12PM
(#31744512)
Lol. Literally just bough a flagship phone from China at a market rate price. (QIWI payment system) Ruble go up, might as well buy a 3080ti next time.
Re:US quietly urges more use of Russia fertilizer to ease fo...
by bsedlm on Tuesday June 14, 2022 @03:05PM
(#31744402)
but will you be able to sell fuel and fertilizer?
Re:US quietly urges more use of Russia fertilizer to ease fo...
by ghostwriter on Tuesday June 14, 2022 @07:54PM
(#31747522)
USD isn't the only currency you can exchange RUB for to conduct mutually beneficial transactions.
Re:US quietly urges more use of Russia fertilizer to ease fo...
by UmbertoNoEco on Tuesday June 14, 2022 @03:07PM
(#31744428)
How many ft3 of gas are you selling daily?
Re:US quietly urges more use of Russia fertilizer to ease fo...
by snemvalts on Tuesday June 14, 2022 @03:13PM
(#31744523)
Can the gas coupons be used for buying consumer goods? Right now doesn't seem to be the case.
Money flows one way. Since Russians don't produce anything except raw materials, high currency value doesn't matter since they can't spend it.
I too can issue a currency, set its value at 1,000,000 USD per unit and declare monopoly in trading it.