this post was submitted on 20 Dec 2024
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Yes, I was being sarcastic. A strong currency is generally associated with a strong economy. The Russians managed to keep the ruble strong the first year of the war, somewhat stable in the second. The last three months have been rather turbulent.
It of course affects the Russian man in the street directly, foreign goods (whatever is still imported) get more expensive. It could be beneficial for exports, but it seems their energy business is not going so great either.
So yeah, I was indeed being sarcastic. As long as they have energy to export they will have some income, but it has been a long time since the Russian economy looked worse.
That's my analysis though. According to a coughing, cold sweating Putin, all is going just great.
Whether it's me or Putin who are correct on this one, a weak ruble to the dollar means Russians will struggle to afford imported goods from the US. So they are not going to be a very profitable trade partner any time soon.