Ye

its so obvious Putin had put all these sanctions and reactions of US and their allies in thought bfr venturing the imminent war and proposed a better way of handling them.
US leaders(hypocrites)

High oil prices.

High oil prices.

More forex in the bag to buffer the economy

(Nigeria is not experiencing the same benefit because we are spending most of our forex on servicing debt incurred by 8 years of low oil prices, and on keeping fuel subsidised at 165 naira per liter).

You can not beat a nationalist and dogged nation. They should ask China. You can only do that to poor, poor Africans.

The source though....

Who wants to give IGBOFAM HighBp this morning

Mumusaphire:
How much is one rubbish to dollars, euros, pounds, or even naira.

1 ruble - 7 naira

1 dollar - 580 naira

Good


END OF PETRODOLLAR



THE SNAKE OF AMERICA IS GOING DOWN


EVIL COUNTRY

Imagine if we faced this sanction ,the Nigerian naira would have fallen beyond repair,this is y we need effective leadership

But weeks ago, the presidency said the Russian and Ukrainian war is the reason food prices are soaring high yet Russian Roubles is doing magic...

E get as e be sha, maybe there are things we don't know or there are things we know but we just dumb it down.


P.S;
I have never believed one piece of information from the media since the Russian and Ukrainian War broke out.

elganzar:




1 ruble - 7 naira

1 dollar - 580 naira

thanks sir. So how is it doing well?

WOW!... Even in crisis /war?.... Kudos putin!

Unlike Nigeria where Some LIFELESS BLUNDER and his clueless gang of self serving THIEVES keeps dishing out dumb as Fvck excuses for their gross incompetence and inefficiencies...

# NIG IS IN WRONG HANDS!

# Buhari is Nigeria's WORST BLUNDER!

The truth is that all economies even that of United States and Europe to Japan are seriously hit due to Ukraine Russian war/Sanctions which is more glaring than that of COVID-19 the Biden administration and the west were trying to use as excuse for there countries economic downturn.

The Us and her allies with Ukraine are now saying it's negotiation between Ukraine and Russia that would end the war but that all they're now doing by supplying weapons to Ukraine and increasing sanctions on Russia is to strengthen Ukraine hands at the negotiation table against Russia when the negotiation will eventually take place.

However the below is OECD say on UK economy etc

Guardian Uk News

UK to be major economy worst hit by Ukraine war, says OECD
Thinktank forecasts UK growth to slow to standstill in 2023, as impact of conflict felt

Larry Elliott Economics editor
Wed 8 Jun 2022 10.11 BST

Britain’s economy is forecast to slow to a standstill next year as it suffers more than any other major industrial country from the effects of Russia’s invasion of Ukraine.

The UK will grow by 3.6% in 2022 before posting zero growth in 2023, according to the Paris-based thinktank the Organisation for Economic Co-Operation and Development (OECD), with inflation expected to average 8.8% this year and fall only slightly to 7.4% in 2023.

The predictions – contained in the OECD’s half-yearly economic outlook – represent a sharp downgrade from the estimated 4.7% growth this year and 2.1% next year made six months ago.

Laurence Boone, the thinktank’s chief economist, said the UK was being hit by a combination of factors, including higher interest rates, higher taxes, reduced trade and more expensive energy.

The OECD said the UK was expected to go from the second-fastest-growing economy in the G7 group of industrial nations after Canada this year to the slowest-growing in 2023. Japan, Germany, Italy, France and the US make up the other members of the group.

A UK Treasury spokesperson said: “Thanks to the support we provided during the pandemic, the UK had the fastest growth in the G7 last year, and our unemployment rate is the lowest it’s been in nearly 50 years. But we recognise many people will be concerned by these forecasts.

“While we can’t insulate the UK from global pressures entirely, our economy is in a strong position to deal with these challenges. We have a plan for growth, and we are supporting people with the cost of living.”

Boone said the world economy was paying a “hefty price” for Russia’s invasion. “A humanitarian crisis is unfolding before our eyes, leaving thousands dead, forcing millions of refugees to flee their homes and threatening an economic recovery that was under way after two years of the pandemic,” she said.

“As Russia and Ukraine are large commodity exporters, the war has sent energy and food prices soaring, making life much harder for many people across the world.”

Boone said the OECD had cut its global growth forecast for 2022 from 4.5% to 3%, while inflation in the organisation’s 38 wealthy-country members would average almost 9% – double the forecast in last December’s Economic Outlook. Growth in 2023 is expected to be 2.8%, down from the 3.2% forecast six months ago.

“Elevated inflation across the globe is eroding households’ real disposable income and living standards, and in turn lowering consumption,” Boone said as she called for the burden of adjusting to a rising cost of living to be shared fairly between employers and employees and between profits and wages.

“Uncertainty is deterring business investment and threatening to curb supply for years to come. At the same time, China’s zero-Covid policy continues to weigh on the global outlook, lowering domestic growth and disrupting global supply chains,” she added.

The OECD is the second international body to cut its growth forecast in the past two days, with the World Bank warning in its global economic prospects of a return to 1970s-style stagflation – a combination of weak growth and high inflation.

They have detached themselves from US global financial manipulation.

All this decrease in currency globally is due to the United States.

That country can never go a year without asking you to devalue your currency

elganzar:




1 ruble - 7 naira

1 dollar - 580 naira

How much was the rubble when they started to Sanction Russia?

That’s the important thing.

Mumusaphire:
thanks sir. So how is it doing well?

I'm guessing compared to it's former value, it's now faring better

I'm not with all these Russian enthusiasts, I'm with Ukraine and the West

Then bring it naija

It's about to start its bearish marathon immediately after hitting all time high.

techWriter0:


https://news.bitcoin.com/american-economists-are-baffled-by-an-unusual-situation-as-russias-ruble-is-the-worlds-best-performing-fiat-currency/

What of Nigerian naira ?

Guyman02:
Russia is not printing so much paper called money, it has vast natural resources such as oil and gas and iron ore.
It has invested in agriculture and self sufficient in food, it's the world's largest producer of wheat.

Western leaders should have allowed the sleeping bear to lie but they didn't realise that Russia has spent the last 10 years preparing against western sanctions, now the west is facing a crisis with galloping inflation as cost of energy and grains continues to rise.

Instead of the unelected bureaucrats in EU and NATO admitting that they are facing an imminent food crises they keep saying that Russian blockade of Ukrainian ports will lead to famine in Africa (na lie, it's herdsmen menace that is a major problem for our farmers) not Russia vs Ukraine war..

Meanwhile, Nairaland imbe-without-cile called igbofam is searching through British DailyMail, Sun and CNN for the next anti Russia propaganda article to counter this basic fact about the Ruble.

.

Ewu Somalia, which media is giving out this information?
You think the west is a place where every news is from the stable of Putin's toilet, their overdependence on Russians oil is what is playing out.
Just come back 6months time when their demand for anything Russians made would have fizzled out and tell me how much the Roubles is....
Putin is yet to see anything, dumb ass that don't know shi-t talk less of economics

Mumusaphire:
thanks sir. So how is it doing well?

it is doing well in its performance and not in the difference in the number value you are seeing. Go and look at the movement of the ruble against the dollar and confirm for yourself not what is it worth against another currency like that poster showed you.

BabydiHot:


truly fortune favours the brave.

This is what you get when you have a visionary leader and not a shaky shaky drug baron.
this is what you get when you are productive and not always consuming all the time.
Russia with the right leader Putin made good use of their resources to counter the whole world fighting them, thanks to Putin a visionary leader par excellence.
this is why Nigerian youths needs to shun those who think they can use their money to buy presidency.
go get your PVC and let's teach these people lessons.

After this war Russia may not be world power but trust me the world will respect them more because they did the unthinkable.
Putin will be the most powerful world leader of all time because normally he's expected to crumble but he stood tall.

Meanwhile they should stop this unnecessary wars
both him and zilynsky should rest.

This fraud, you're here talking trash as usual

No amount of propaganda, war or sanctions can destroy the resolve of patriotic people

maasoap:


This fraud, you're here talking trash as usual

shatap

Lol...who came up with this tripe?

Ceenachi:
He outsmarted them all. Biden is even growing old with pressure and the Arabs are equally mocking him

God bless Russian for shifting the evil attention of the USA, WEST AND NATO from the African and Arab nations

We don't want to hear fake news when igbofam posts his own oh

Asianjollof007:
Americans and the british won't like this despite sanctions and stylishly stealing russian assets. Putin, the genius.

We should learn from them. It's high time that the Nigeria government start selling our crude oil and being paid in Naira if we don't want the free fall of Naira to continue. Our thirsts for foreign currency is what's killing us.

Good news to Putin but how does it translate to the economy that affects the common man in Russian Street ?


Same story here.. we are the biggest economy in Africa but the common man in nigeria is among the poorest in the world..

SenecaTheYonger:


How much was the rubble when they started to Sanction Russia?

That’s the important thing.

Pre 2022 war values, Ruble was around 64 rubles to one dollar. One needed about 6400 rubles to get one hundred dollars .
When the war broke out,
About 120 to 125 rubles to get one dollar. (100% weaker). Later, 110 on some days.
Right now, it is back to its pre-2022 War values.
But peeps who were in Russia before 2015, war with Ukraine when Russia annexed Crimea, say Rubles fell and started exchanging around 64 to 65 for a dollar due to the war and the rubles was far stronger.

Also significant to point out that pre 2022 war, there was no pronounced black/parallel market for exchanging Rubles to Dollar. anytime as often as any Tom, Dick and Harry needed Dollars in cash, just walk into any Russian bank and all the rubles would be exchanged to dollars at the OFFICIAL RATE of the day
But right now, most banks have Limit and people have to turn to parallel/black market

As the official rate is showing 60rubles to one dollar today June 9th, it will be like 65 rubles to one dollar at parallel market. Nothing like black market before in Russia . The exchange rate was uniform everywhere as one could easily exchange any rubles quantity at any bank within 5minutes pre- 2022 war, that Russia is fighting to annex Dobansk