Domestic money changers in Russia are forbidden to sell dollars. I just wonder - where does that number you posted above come from? What exchange? On black market AFAIK ruble is being bought/sold, in very thin trade, at 300-350 right now. MOEX is closed and is not projected to reopen any time soon, and I am not sure what exchange the USD.RUB pair is trading on currently, if any.
> Institutional FX > Russian Central Bank Changes Process of USD-RUB Rate Calculation Russian Central Bank Changes Process of USD-RUB Rate Calculation It has expanded the time range of calculation for the consideration of more transactions. Also, it will set the exchange rate of the euro similar to other foreign exchanges. Monday, 14/03/2022 | 16:02 GMT+8 by Arnab Shome Institutional FXRussia// ToDo refactor when changes on back-end are ready The Central Bank of Russia is changing the procedure of calculating and publishing the official foreign exchange rates as the value of the ruble against the US dollar has plummeted over the past few weeks. Announced on Monday, the Russian monetary regulator is addressing the currency market volatility by increasing the representativeness of the US dollar exchange rate against the ruble. Specifically, it is going to expand the time range for calculating the official dollar exchange rate against the ruble and will simplify the procedure for setting the official euro exchange rate against the ruble. “The Bank of Russia will set the official dollar rate based on the Moscow Exchange data on the weighted average dollar/ruble exchange rate for transactions concluded from 10:00 to 16:30 Moscow time. Previously, the calculation period was 10:00 [to] 11:30 Moscow time,” the draft document, which has been sent for registration with the Ministry of Justice, stated. According to the central bank, the expansion of the time range for the calculation of the rates will allow it to consider a larger number of transactions during a day. For the euro, its official exchange rate against the ruble will be set in the same way as other foreign currencies. The regulator said that this move will make it easier to establish and publish rates. Saving the Ruble While Russia is the aggressor with its military power in Ukraine, its central bank is playing defensively to save the country’s economy from the rampant sanctions being imposed by Western governments. The value of the Russian ruble against the US dollar went down by more than 30 percent in a week as several commercial banks were banned from using SWIFT by the European Union. To save the value of the rubble and maintain a reserve of the US dollar, the Russian central bank even temporarily has banned the sale of foreign currencies in the country.
LOL so the rate you're quoting comes from Russian Central Bank Thank you, that's funny. No one can go, give 100 rubles and buy $1. But the "rate" is there. Pure fiction. They should just set it back to 70. Looks even better.
We have given almost $1B in security assistance to Ukraine this week - this week - let that sink in. No way the Russians can keep up with the Ukrainians being supplied by us at this level. No way. Anyone know what drones we are sending? If reapers, the Russians are going be truly outmatched. No way they can handle reapers drones. And Russian drone pilots are already veteran status and skilled.