Rouble Exchange Rate

[msmoby]

In the UK the Rouble was 40 /£1 GBP for eons ..

It fell to 123/ 1 GBP in Feb 16 and seemed to have settled at half it's value ..despite a certain exert on here predicting it's 'recovery' for the last 6 plus years ..


I went to pay our water / and electric bills and couldn't believe my eyes .. over 95 R / £1 ?

Russia has refused to agree a deal with the Saudi's and oil is tumbling ..as the Kremlin won't / ca't cut back on production ..


I just hope we all see the benefits at the pumps when we go to fill up !

[Steveboy]

Rouble gone down..1 pound =97 Roubles..

Black Monday here it comes.. panic panic panic.. stocks are going down (Do I really care) Airlines are going bust (Tough luck) I can't possibly even try to imagine what is going to happen when the next major event hits the planet .. meteor, Krakatoa or the likes I guess there will be mass suicides ?

Well we save $500.00 this month on our house loan so Im not complaining .. will it effect dating? No of course not cos most dater never actually leave they armchair..

It's just going to be a short term blip .. "survival of the fittest" as they say!

[msmoby]

In the last two hours been 95, then 91 and when you said 97, I thought 'no way' ...

Ah well paid at 94

[Manny]

https://www.xe.com/currencyconverter/convert/?Amount=1&From=GBP&To=RUB

The reason is said to be a reduced demand for oil by China due to factories being closed due to the virus: https://www.theguardian.com/business/2020/mar/08/oil-price-to-plunge-as-much-as-20-as-saudis-vow-to-step-up-production

Not for four years has it been at this rate: https://www.xe.com/currencycharts/?from=GBP&to=RUB&view=5Y

97/£1 at the moment. I'd call that a buy level really. Certainly if it tops 100/£1. I'm thinking of dropping some cash into Roubles. I see an easy 10-15% to be had short term like last time.

Anyone any thoughts?

[andrewfi]

https://www.xe.com/currencyconverter/convert/?Amount=1&From=GBP&To=RUB

The reason is said to be a reduced demand for oil by China due to factories being closed due to the virus: https://www.theguardian.com/business/2020/mar/08/oil-price-to-plunge-as-much-as-20-as-saudis-vow-to-step-up-production

Not for four years has it been at this rate: https://www.xe.com/currencycharts/?from=GBP&to=RUB&view=5Y

97/£1 at the moment. I'd call that a buy level really. Certainly if it tops 100/£1. I'm thinking of dropping some cash into Roubles. I see an easy 10-15% to be had short term like last time.

Anyone any thoughts?

Not an expert, but if you want to turn a profit then you need to think about the currency you will be using to purchase and the time horizon.
The events WRT currencies are due to perceptions of value and risk. The biggest risk factors right now are oil pricing and the current human malware infestation.
Russia is relatively immune to the oil price decrease and I reckon that the government there (and the Saudis) see a real benefit to lowered oil prices because it wipes out USAian production. US oil production is financed through cheap money, but money cannot get much cheaper for those producers (even if it remains available).

If oil prices remain low for a few months then the rouble rebound when prices rise will be significant ( I think), but if the rouble goes 'cheap' for a year or more, what's the profit for you as compared to other investments? It might be better than banging your spare money into stocks for a while because I doubt there's going to much return there for a while!

The economic effects of the human malware infestation are going to be, I think, longer than a year.

Basically, I'd hang on to cash until you see the rouble (or other assets) start to appreciate because holding cash and missing the bottom of the market is more profitable than buying into a declining market and following prices down.

-----
Steve, that's a great idea as long as you can safely assume that the residential market in Russia remains buoyant and right now? I doubt it!

[andrewfi]

Let's see what the next few months bring. There will be some lag, there always is. Deals in place will go through, but give it 3 to six months and I bet things look a tad different.

[msmoby]

Once again, YOU told us the Rouble would recover in 2014 ... when has it been 45 / GBP since ,,, ?

[Manny]

Down from 97/£1 to 91/£1 today. Might have missed the boat.

I sent over a bit of walking about money yesterday but nothing serious.

Does anyone know any currency alert services where they will send you an SMS (not an email) when rates are at a certain level?

[andrewfi]

Transferwise used to offer a service where they'd email you when the price was the best within the past 2 weeks. I am not sure if they still do it.

[andrewfi]

Once again, YOU told us the Rouble would recover in 2014 ... when has it been 45 / GBP since ,,, ?

Mystic, go and read what I wrote up-thread there's a good little man.

[Manny]

Transferwise used to offer a service where they'd email you when the price was the best within the past 2 weeks. I am not sure if they still do it.

They do, but that’s not an SMS and no good unless one checks emails every half an hour.

I was hoping for an SMS service so that if the rate goes above 100 I can dump a few grand in within a few minutes.

[andrewfi]

Faulty memory. I thought you got notifications through the app.
Xe.com does app based notifications. The app is Xe Currency.

App notifications can go to your phone screen notifications just like sms notifications.

[Steveboy]

Down from 97/£1 to 91/£1 today. Might have missed the boat.

I sent over a bit of walking about money yesterday but nothing serious.

Does anyone know any currency alert services where they will send you an SMS (not an email) when rates are at a certain level?

We got a transfer wise card and account in the US .. get paid weekly into the US bank and transfer straight to Roubles account.. lucky we get paid Monday so got a few extra Roubles this week.. that is it now I think
all over Rouble will be around 85-90 for maybe a few months max..

By the way that transfer wise is a bloody good set up (Thanks Andrew) nearly zero costs, good rates and instant transfers to any Russian bank or card.. The US stopped paying payments in to Russian banks some time back so had to use my UK account which was a pain in the ass..and cost a fortune on conversion rates..

I think all the commotion is over now..

[msmoby]

[
We got a transfer wise card and account in the US .. get paid weekly into the US bank and transfer straight to Roubles account.. lucky we get paid Monday so got a few extra Roubles this week.. that is it now I think
all over Rouble will be around 85-90 for maybe a few months max..

By the way that transfer wise is a bloody good set up (Thanks Andrew) nearly zero costs, good rates and instant transfers to any Russian bank or card.. The US stopped paying payments in to Russian banks some time back so had to use my UK account which was a pain in the ass..and cost a fortune on conversion rates..

I think all the commotion is over now..

Try Paysend or Revolut ..

The former ( IMHO) is better than transferwise and Revolut allows one to load money from your UK bank account - 'exchange it in the app at a good rate and withdraw in Roubles

[Steveboy]

[
We got a transfer wise card and account in the US .. get paid weekly into the US bank and transfer straight to Roubles account.. lucky we get paid Monday so got a few extra Roubles this week.. that is it now I think
all over Rouble will be around 85-90 for maybe a few months max..

By the way that transfer wise is a bloody good set up (Thanks Andrew) nearly zero costs, good rates and instant transfers to any Russian bank or card.. The US stopped paying payments in to Russian banks some time back so had to use my UK account which was a pain in the ass..and cost a fortune on conversion rates..

I think all the commotion is over now..

Try Paysend or Revolut ..

The former ( IMHO) is better than transferwise and Revolut allows one to load money from your UK bank account - 'exchange it in the app at a good rate and withdraw in Roubles

I do not have a UK bank account with any money in it.. I don't even use any UK bank I just have a spare LLyods bank account for non financial emergencies .. I only actually use Russian banks until the US stopped making wire transfers to Russian banks .. so I had no choice other than to open a US account.

Im just a poor boy from the village no savings or other income in the UK to bail me out..

[msmoby]

Your 'spare' Lloyd's account is all you need..

People / Clients can wir money to you in seconds in the currency of their choice...You can convert it to most currencies...!

[Danchik]

97/£1 at the moment. I'd call that a buy level really. Certainly if it tops 100/£1. I'm thinking of dropping some cash into Roubles. I see an easy 10-15% to be had short term like last time.

Anyone any thoughts?

Wasn't a bad move in 2015, but I think there are better, less risky investments. What, I'm sure you're going to ask? Well, that's what some friends and acquaintances here are looking into. Most are taking a wait and see approach for the next month or 2. Gold, gold mining, energy, etc.

I'm definitely looking to move some money out of dollars. The people I know are quite sure there's a nice profit to be made as usual in a down market. Just a matter of weeding out some of the choices during that time.

I think the American economy has a very good chance to tank despite what the Americans say, but there's some debate on which way the dollar will run. It sure wouldn't surprise me if it headed south, at least as far as purchasing power goes. You can't continue QE aeternum and think it's not going to negatively effect the dollar.

There are some who think the dollar will hold strong against most other currencies and other said currencies are going to take a bath. That wouldn't surprise me either, at least in the short term (next 6-12 months). Long term, don't think so.

[msmoby]

Once again, YOU told us the Rouble would recover in 2014 ... when has it been 45 / GBP since ,,, ?

Mystic, go and read what I wrote up-thread there's a good little man.

It was a bollox 'excuse' meaningless in the face of the numbers you try to weasel out of seeing in their purest form ....

FACT:  The Rouble is half what it was when you promised this 'recovery' SIX years ago ..  even broken clocks are correct 1 or two times a day, ...  You're not even that 'accurate' ..

[Steveboy]

Well apartment prices are still going up our one had it's usual monthly rise this week,, so no different there!

[andrewfi]

There is going to be several pressures on the dollar making it hard to predict the shorter and medium term outcomes.
Its important to remember that a currency has no intrinsic value and that a rise or fall in value is always relative to other currencies so what happens to the dollar value is less about what the USA does and much more about what other countries do and how traders react to those actions and, very importantly, their sentiments about what is going on at a macroeconomic level in various economies.

Longer term, and again this is in comparison to other economies, creating money out of nowhere is always inflationary unless the economy has an increase in productivity that matches the increase in amount of currency created. Of course that's not going to happen in the current situation, all that can happen is to reduce the fall in economic output in the United States.

In the very immediate future, if I was a betting man, I'd expect the dollar to rise against standard currency baskets but it is not a given. Of course, currency traders work on very short time horizons, sometimes just milliseconds. The rest of us are looking at longer time horizons of days, weeks and months. Right now I am happy to accumulate dollars but am keeping an eye on numbers ready to swap out at short notice.