Russian Central Bank sets official ruble exchange rates for nine more currencies.
The Central Bank of Russia is to set official exchange rates against the ruble for nine foreign currencies starting from January 18, 2023, the regulator said in a statement.
The list includes:
- United Arab Emirates (UAE) dirham
- Thai baht
- Vietnamese dong
- Serbian dinar
- New Zealand dollar❗️
- Georgian lari
- Indonesian rupiah
- Egyptian pound
- Qatari riyal #Dedollarization
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❗️❗️The comments section mentions over and over, WHY IS NZ ON THIS LIST.
The implications of this is HUGE!! NZ is the jumping off point to ANTARTICA.
She resigned because she's done all the harm she can and someone else will step up to finish it. or, hopefully someone booted her out.
Why would NZ join up with Russia?? It just doesn’t make sense.
Why does this mean that NZ has joined up with Russia?
Admittedly I’m not the most knowledgeable finance or forex person, so I might be missing something here. I’ve not known currency exchange rates to be made by government fiat. But since Russia is forcing everyone to pay them in rubles for energy, I would presume that they are setting exchange rates to max out their return on the exchange. It would seem such a program would incentivize these countries not to support acts by the west that would weaken the ruble. Because it would only screw them over on their costs of energy.
It virtually means that NZ does not have to use the USDollar (world reserve currency) to trade with Russia. It’s called de-dollarisation.
I’m just not following. You can buy rubles now. The exchange rate depends on your currency you seek to trade for rubles. Whether that is dollars, pesos, euros, shekels…whatever.
Russia might have accepted US dollars for rubles. And they probably still do. But when you are sanctioned by the west and forced out of the swift system, that becomes a problem. Hence, they forced the euros to pay them in rubles for natural gas.
The main problem with foreign currencies flowing into your country is that you need enough trade with that country that their currency is useable by your people. The US gets away with its fiscal policies because the rest of the world is content to own things in America with the dollars they receive from trading. I’m not sure anyone wants to buy a lot of Russian stuff. So I’ve heard a lot of physical gold is being sent to trade for rubles instead.
So if you wouldn’t mind, please enlighten me here. I am not getting it. How does creating a fiat exchange rate = a partnership with that country? Just not getting there with this single fact.
She's leaving because Putin won't play with her nor with NZ, while she is in office....