Re:The euro has tumbled near parity to the US dollar
by chrisco255 on Monday July 11, 2022 @05:07PM
(#32061860)
But isn't the end effect the same? End result is euros are being dumped for rubles by EU nations themselves.
Once the euros are converted to rubles, it's unlikely they get converted back into euros somewhere else in the supply chain. As opposed to USD, which facilitates 87% of world trade.
Re:The euro has tumbled near parity to the US dollar
by Moldoteck on Tuesday July 12, 2022 @04:25AM
(#32066999)
There is a difference. Russia is free to convert money as they wish, just as they could do in the past, nobody is forced to do conversion by themselves
Once the euros are converted to rubles, it's unlikely they get converted back into euros somewhere else in the supply chain. As opposed to USD, which facilitates 87% of world trade.
That means net selling pressure on the Euro.