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Russian ruble (sh.itjust.works)
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[-] SkunkWorkz@lemmy.world 15 points 3 weeks ago* (last edited 3 weeks ago)

If you trade your USD for other currencies and the value of the dollar goes down against those currencies your get more dollars when you sell those other currencies for dollars. Thus this means that the value of the other currencies went up.

You get around 100 Rubles for every US dollar let’s say you buy 1000 Rubles with 10 dollars, if the value of the dollar goes to 50 Rubles (meaning the value of the Rubles went up) then you trade those 1000 Rubles back to dollars you’d get 20 US dollars.

[-] Cethin@lemmy.zip 5 points 3 weeks ago

I think they're aware of how it works. Currency speculation is not complicated or new. The thing is, why would you expect the ruble to be a better investment than another currency? Why would you expect it to bounce back?

It's a Wall Streets Bets thing because it's very stupid gambling based on very poor logic. If you're going to start speculating in currency, the ruble is probably not where you want to start right now.

[-] M0oP0o@mander.xyz 2 points 3 weeks ago

Ha, and more on the same point russia just closed the ruble market. So no more trading in rubles and no more ruble values being released.

Should invest in Rands.

[-] Tartas1995@discuss.tchncs.de 1 points 3 weeks ago

I think it is a good idea to help them to understand to use their language.

The rubles don't go "up" but the dollar goes "down".

That better matches their understanding of reality and it is irrelevant for what you try to communicate.

this post was submitted on 27 Nov 2024
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