Rouble trades like a shitcoin as sanctions bite

Down down down. No, this isn’t a chart of your favourite shitcoin. This isn’t a rug .This is the Rouble and it is… in no uncertain terms. Rekt. Obviously this is a dramatic reflection of the ongoing escalation in sanctions towards Russia, specifically aimed at strangling the country’s ability to prop up its economy. The Russian Central Bank more than doubled its key interest rate from 9.5% to 20% to and ordered companies to sell 80% of their foreign currency revenues. In the press release this simple phrase ‘External conditions for the Russian economy have drastically changed.’ No shit. We’ll dig it what all this means and try to remember that while the Ukraine is of course the victim here, nobody in Russia voted for this war and these crippling economic conditions will come with a heavy price tag of their own.

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Links
https://www.tradingview.com/chart/?symbol=FX_IDC%3ARUBUSD
https://www.cbr.ru/eng/press/keypr/
https://edition.cnn.com/europe/live-news/ukraine-russia-news-02-26-22/h_977c8372b0d9a058265cfd5326a46fe4
https://twitter.com/ZelenskyyUa/status/1497502946480869378?s=20&t=jq_K530TZByoTzwEss5oCw
https://www.youtube.com/watch?v=WCjJTLu5nrA
https://www.bbc.com/news/world-europe-60547807
https://www.youtube.com/watch?v=bej61P8YaXo

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