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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Perhaps ECB bought Rubles through repo with Russian banks
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Bro what five year olds have you been talking to
What does "through repo" mean? And why would the ECB be doing this for Russia
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What about my reply makes you think I know all about this?
If you don't want to explain that's fine lol
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what does this mean then lol
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Replying to
My original post said ELI5 (explain like I'm 5)
Then you told me about central bank repos!
Central banks can do something like this: I give you 10M worth of Russian Govt Debt (or Euro or Dollar or anything) and you give me 1000M in Ruble today. One month from now, you give back my debt and I give you back your Rubles
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