I don’t get why the ruble is back to its pre-war level. I don’t necessarily think it matters but I’m just confused because presumably a lot of foreign buyers of Russian goods and services who would bid up the ruble’s price are now cut off.
ELI5 please
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It's pegged to gold.
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Do they have enough gold to do that? Is the link credible?
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They have a lot of gold but more importantly they have oil. They can sell oil for gold to boost the ruble.
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I haven't seen anybody suggest oil for gold yet, the only conversation I saw was oil for rubles (and it seems they're backing off that for europe)
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