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RE: The USA Joins other countries To Eliminate Other Russian Banks In SWIFT, Sanction Central Bank

in Project HOPE • 4 years ago

It's me again

I was wondering if you have any view on futute of Russia financial system (especially from the perpective or regular people) after interest rates has been hiked to 20%?

I can hardly imagine being able to pay any loans or morgage in similar situation. Especially while knowing, that all imported items will cost so much more since value of Rubel dropped so badly.

Any thoughts you like to sharE?

Cheers, Piotr

4 years ago in Project HOPE by
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     4 years ago 

    Greetings @crypto.piotr,

    interest rates has been hiked to 20%?

    I have read somewhere that Russia over the past several years has amassed a war chest of some $630 billion in foreign reserves, its highest level ever

    I think which they are using now to make money flow in banks,

    I can hardly imagine being able to pay any loans or morgage in similar situation. Especially while knowing, that all imported items will cost so much more since the value of Rubel dropped so badly.

    You are correct they have to pay almost 30 % more in everything,

    For now, they have enough money to face 20 % of interest but I don't think it lasts much, i guess its a short term strategy to gather money in the banks/increase deposit which they will use later in this war i guess, or in other purposes,

    Thank you so much for visiting, I appreciate your valuable time : )

    Regards,
    @winy

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