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A comment on The euro has tumbled near parity to the US dollar. Parent comment

Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Monday July 11, 2022 @03:42PM (#32060802)
That means it is about 40% stronger than it historically has been.

IF you had your money in Rubles last year, can buy 40% more of a product than if you had your money in Euros.

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Re:The euro has tumbled near parity to the US dollar by lostmsu on Tuesday July 12, 2022 @12:11AM (#32065527)
What product can you buy with rubles?
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Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Tuesday July 12, 2022 @01:27AM (#32065999)
Wheat and gas, or better yet, euros to get anything elae
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Re:The euro has tumbled near parity to the US dollar by littlestymaar on Tuesday July 12, 2022 @04:04AM (#32066869)
> anything* else

*not under sanctions.

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Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Tuesday July 12, 2022 @09:34AM (#32069680)
Sanctions don't stop a forex investor from trading the rubles they own for euros and buying whatever they want
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Re:The euro has tumbled near parity to the US dollar by lostmsu on Tuesday July 12, 2022 @03:19PM (#32074483)
Can you actually trade ruble? For some reason, for example, Sep-2022 futures chart for ruble has a gap between Jun 15 and today. And forex.com claims USD/RUB and EUR/RUB are unavailable for trading.
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Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Tuesday July 12, 2022 @05:25PM (#32075891)
Yes, you can still trade it. Foreign currency exchange is decentralized. Us and EU exchanges have stopped trading and ruble, but you better believe in the n in Chinese exchanges still trade it
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Re:The euro has tumbled near parity to the US dollar by lostmsu on Wednesday July 13, 2022 @09:14AM (#32082194)
I think you are theorising too much based on a bit of Russian propaganda. I looked at a few exchanges and the spread on rubble is so high you could not buy more than a few dollars at the rated prices.
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Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Wednesday July 13, 2022 @12:10PM (#32084669)
Look at the spread at the Bank of China ( China's largest bank and foreign exchange).

They are buying rubles 10.75 RMB and selling at 12.5 RMB. They are selling USD add 674.

This gives 63 rubles to the dollar.

The fact is that major economic powers in the world have not signed onto sanctions and have access to both Russian and Western currency.

It is true that many parts of the West have lower need for rubles because of sanction, but if you I think that the entire Globe has frozen trade with Russia and trade in Russian currency, you are the one that has fallen for propaganda. They just no longer can use western exchanges to convert currency. See the link below.

https://www.google.com/amp/s/markets.businessinsider.com/new...

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Re:The euro has tumbled near parity to the US dollar by lostmsu on Wednesday July 13, 2022 @01:46PM (#32086194)
That's a huge spread, which is exactly what I was talking about. You buy 1$ for 63 rubles on that bank chances are the 2nd dollar will cost you 64 rubles. Need to see the order book and market depths at different prices. High spread also means there haven't been many trades recently.
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Re:The euro has tumbled near parity to the US dollar by s1artibartfast on Wednesday July 13, 2022 @03:47PM (#32087875)
Did you read the link? $703 million worth of rubles is being traded a week, and that is just yuan and just one exchange.

So far you have changed your position from you can't trade it at all to the spread might become incrementally worse if trade exceeds 700 million US dollars worth a week

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Re:The euro has tumbled near parity to the US dollar by lostmsu on Friday July 15, 2022 @10:54PM (#32114858)
First of all, that's the volume they claim themselves.

Second, this exchange is in Russia. Can you actually move your "yuan" from that exchange to China or anywhere outside the country?

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