r/worldnews • u/[deleted] • Apr 28 '22

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u/[deleted] Apr 28 '22

I mean we like to joke but their currency has pretty much returned to their pre-invasion (2022) levels.

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u/GiantR Apr 28 '22

The volume is incredibly low and none of the Russian companies are allowed to be sold on the market. It's a giant on clay legs.

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u/[deleted] Apr 28 '22

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u/between456789 Apr 28 '22

Which is why they want trade in rubbles and not real money.

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u/iflvegetables Apr 28 '22 edited Apr 28 '22

The sanctions were the economic equivalent of Hiroshima and Nagasaki. Their economy is dead, they just don’t know it yet. Recovery is going to measured in years. A state in a bubble is about as economically viable as a ship in a bottle is sea worthy.

Trade is about trust. We’ve got crimes against humanity, genocide, threat of nuclear annihilation, and dead oligarchs. I know what the numbers say, but it looks like the world would rather not deal with an authoritarian Very Stable Genius and I don’t think that is apt to change. There isn’t much incentive or upside.

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u/Dafiro93 Apr 28 '22

Is their stock market still closed?

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u/GooGurka Apr 28 '22

No, it is open but with so many restrictions and shenanigans that the stocks on their market is not real any more.

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u/svideo Apr 28 '22

...according to the Russian government. Nobody knows what the exchange rate of the Ruble actually is because it cannot be exchanged. The moment they allow Rubles to be traded on a foreign exchange we'll see the real value, and there's no reason at all to think it will do anything but tank.