> "Repeated case of interference of the Bank of Russia into implementation of the budget rule in terms of foreign currency purchases means that the floating currency rate regime existed from the end of 2014 until early 2018 is ‘only on paper now’ and is actually substituted by regulation of the currency market by the Bank for Russia for the purpose of eliminating threats for financial stability, jeopardized by the budget rule effect,"
https://tass.com/economy/1026029
This was 4 years ago, and is even more so true now. The ruble at the moment is NOT free floating.
Russia is the definite loser out of this, and indeed everyone is, the decision to invade was a catastrophe for everyone on multiple levels.
I always find it strange when people post comments like this. It is a clear indicator you don't understand financial markets.
If you were to look at the data yourself, you would see in Oct 2017 it was 58.11 and in Oct 2022 it is 57.88 (vs USD)
In your opinion, what does this indicate? FX is always "Currency vs currency", so has the Ruble weakened? Perhaps the US dollar strengthened? What caused the change? Is the change even meaningful?
Is the change "market driven" or has the state intervened?
It looks like the state has been actively defending it, so what is your actual point?
how is the ruble doing on international currency exchange?