Here's why the ruble-dollar exchange rate is fake.
If you double the amount people get in yield for buying ruble bonds, of course it will strengthen it. US interest rate is about 0.5% by comparison. And even still inflation hits 23% in Russia, so it's not really working.
Russia cuts key interest rate to 14%, says inflation could hit 23% this year
The Central Bank of Russia has cut its key interest rate to 14% from 17% as it looks to mitigate the impact of economic sanctions.
www.cnbc.com
If you double the amount people get in yield for buying ruble bonds, of course it will strengthen it. US interest rate is about 0.5% by comparison. And even still inflation hits 23% in Russia, so it's not really working.
Russia Interest Rate
The benchmark interest rate in Russia was last recorded at 18 percent. This page provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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