Kremlin blames loose monetary policy as rouble slides past 101 vs dollar
www.reuters.com
Rouble has lost 25% of its value since the war began.

President Vladimir Putin’s economic adviser rebuked the central bank on Monday as the rouble slid past 101 per U.S. dollar, blaming its 30% year-to-date slump on loose monetary policy and revealing growing discord among Russia’s monetary authorities.

  • The Snark Urge@lemmy.worldEnglish
    143·
    1 year ago

    Only 25%? The pound dumped to nearly a dollar earlier this year. It’s not just them, all money has been acting up lately. They’re lucky not to have it worse given that they’ve destroyed Russia’s long term economics with this war (not to mention centuries of harsh extractive economics and a long historical trend of resisting modernization)

    • addie@feddit.ukEnglish
      20·
      1 year ago

      I wouldn’t really use the pound as a comparison for anything - we decided that committing economic suicide and abandoning free trade with our closest trading block was a small price to pay for being able to be mean to poor brown people. The reviews are coming in; would you believe that that was a stupid decision, and we’ve a stupid currency that’s not worth as much any more?

      • nogooduser@lemmy.worldEnglish
        11·
        1 year ago

        The “funny” thing is that we could be mean to poor brown people before as most of them aren’t from the EU. Although, now there’s talk about leaving the European human rights agreement so we can be really mean to them.

        (It’s not really funny)

            • InvertedParallax@lemm.eeEnglish
              1·
              1 year ago

              I’m an American, we used to look up to the British and we understood why they thought of us as uncultured, unsophisticated backwoods rubes.

              We don’t have that perception anymore… :)

              • Risk@feddit.ukEnglish
                2·
                1 year ago

                Careful now, my tea-philistine-friend, or else I shall taunt you about your orange fellow.

                Ah, who am I kidding, our respective states are just two pigs wallowing in shit.

                • InvertedParallax@lemm.eeEnglish
                  2·
                  1 year ago

                  Oh no, I know we’re waving our dangly bits in a large greenhouse with excellent access to a large rock field.

                  But like, we had so less far to fall :/