This stupid "Ruble to rubble" talk is from his Poland speech which was watched by billions people all over the world. But it is becoming international joke that other countries are mocking about now.
Link: https://mobile.twitter.com/Forbes/status/1507774701376004103
Today 1 USD = 67.2646 RUB
Russia won this round of financial war for sure.
Link: https://www.exchangerates.org.uk/Dollars-to-Russian-Roubles-currency-conversion-page.html
Nobody outside of Russia can trade the Ruble now. Russia has taken steps (high interest rates, capital controls, requirement to repatriate foreign earnings by corporations into rubles, payment in rubles for Nat Gas) to ensure that there is no internal downward pressure on the ruble. There is no market, so the ruble is whatever they say it is...for now.
their central bank rate-cut move. I believe they will lower interest rate again soon.
You can trade ruble if you have business (export or import) with Russia. Ruble is linked with and backed by real economic activities. Given current sanction situation, that's good enough for Russia. Yes, if you make living by trading foreign currencies, ruble is not in your portfolios. But clearly Ruble is stablized. Biden's prediction is a joke.
