The Russian Ruble
EconMatters | May 29, 2017 01:00AM ET
We discuss the Russian ruble currency in this market video against the US dollar, silver, gold and bitcoin, with different timeframes going back over a five year period. It paid to be bold when everyone else was a scared little rabbit and buy the ruble when things appeared very bleak in the throes of an oil and commodity crash along with several incursions into Ukrainian territory, and all the Geo-political fallout, international sanctions and economic turmoil that followed.
It shows how capable Russia Finance chiefs were and the Ministry of Finance in reacting to difficult times indeed because overall, when we consider all that Russia was up against, they handled this crisis rather well. Raising interest rates to extraordinary levels seemed to be the main focal point of the strategy to fight capital flight and stem the currency collapse of the ruble, and it worked by my analysis. In short buying the Russian ruble when there was the proverbial 'blood in the streets' was a bold, counter-trend play that turned out to be highly profitable for traders.
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