Amid the Ukraine-Russia conflict, the ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. Economics Finance
Russia’s central bank pegged the price of RUB to 5,000 for a gram of gold. While creating a gold parity for a national currency is something nation states did decades ago, the practice has mostly been retired. A great number ofbelieve the move to create a gold parity with the ruble will have lasting effects on the U.S. dollar. Pegging the ruble to gold could make the fiat currency desirable in Forex markets and bring allies from other nation states interested in the gold-backed framework.
on Friday. “Financial stability risks are still present, but have ceased to increase for the time being, including owing to the adopted capital control measures.”
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