rub to gbp

The Commander-in-Chief of the Armed Forces of Ukraine, General Valerii Zaluzhnyi, has reported that the defenders have moved to the offensive in the Kharkiv and Izyum directions, where fierce fighting is ongoing. According to the collective reports of the operational commands ‘East’, Combined Forces Operations (in Donbas), ‘South’ and the Air Force Command, the Russians lost within 24 hours: an aircraft, 14 unmanned aerial vehicles, 11 tanks and 14 armoured fighting vehicles, among others. The defence of the Odesa area reported that a winged missile was shot down and a Black Sea Fleet frigate was hit.

 

The invaders continue to implement the ‘ruble zone’ in the occupied territories, which is intended to weaken the ties of these territories with the Ukrainian economy and create links with the so-called people’s republics and Russia. The announcement of the introduction of the ruble from 1 May has still not been realised – the hryvnia remains in circulation. In Kherson

Germany's Economic Challenges: Waiting for 'Agenda 2030

Pound (GBP) takes a tumble after BoE hike

Kenny Fisher Kenny Fisher 06.05.2022 09:56
The British pound is fading badly on Thursday. GBP/USD has dropped a staggering 2.15% today and has fallen below the 1.24 line for the first time since July 2020. After the BoE decision, market focus has shifted to the elections in Northern Ireland later today. A Sinn Fein victory could weigh on the wobbly pound.   BoE hike fails to impress markets The BoE raised interest rates for a fourth straight time since December, bringing the Official Bank Rate to 1.00%, its highest since 2009. Yet the market reception to the BoE move was decidedly chilly, as the pound has plunged almost 2% today. Why the sour reaction from the markets? The 0.25% was a modest move and it’s questionable if it will have much impact on soaring inflation. In March, CPI rose to 7.0%, up from 6.2%, and the BoE has warned that inflation could surpass 10%. The modest rate hike passed by a vote of 6-3, surprising the markets which had expected an 8-1 vote. Two MPC members called for a 0.50% hike, which reveals a sharp split within the MPC. Governor Bailey admitted after the meeting that an uncertain economic outlook had led to a range of views in the MPC, and such a statement can hardly be expected to instill confidence amongst investors. The BoE cannot be blamed for not being aggressive – it is well into its rate-hike cycle and the policy summary noted that “some degree of further tightening in monetary policy may still be appropriate in the coming months”. In addition, the BoE dropped the word “modest” to describe upcoming rate hikes. Yet the markets appeared to focus on the split vote and the warning from the BoE that the country could face a sharp economic downturn, and the thumbs-down response has sent the pound sharply lower. As expected, the Federal Reserve raised rates at its meeting by a half-point, the largest increase in 20 years. The Fed signalled that it will deliver additional half-point hikes in June and July, with Fed Chair Powell stating that the FOMC was not “actively considering” a 0.75% increase. The Fed is also implementing quantitative tightening with a reduction in the balance sheet. Starting in June, the Fed will sell USD 45 billion/mth in assets, which will rise to USD 95 billion/mth in September. In sharp contrast to the BoE’s hike, the financial markets reacted positively, as investors believe that the Fed’s rate hikes can curb inflation while ensuring a soft landing for the economy and avoiding a recession.     GBP/USD Technical GBP/USD faces resistance at 1.2612 and 1.2719 There is support at 1.2272 and 1.2179           This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The relatively weak ruble (RUB). Russia's attack on Ukraine - state after 71 days

The relatively weak ruble (RUB). Russia's attack on Ukraine - state after 71 days

Center Of Eastern Studies Center Of Eastern Studies 09.05.2022 07:36
The Commander-in-Chief of the Armed Forces of Ukraine, General Valerii Zaluzhnyi, has reported that the defenders have moved to the offensive in the Kharkiv and Izyum directions, where fierce fighting is ongoing. According to the collective reports of the operational commands ‘East’, Combined Forces Operations (in Donbas), ‘South’ and the Air Force Command, the Russians lost within 24 hours: an aircraft, 14 unmanned aerial vehicles, 11 tanks and 14 armoured fighting vehicles, among others. The defence of the Odesa area reported that a winged missile was shot down and a Black Sea Fleet frigate was hit.   The invaders continue to implement the ‘ruble zone’ in the occupied territories, which is intended to weaken the ties of these territories with the Ukrainian economy and create links with the so-called people’s republics and Russia. The announcement of the introduction of the ruble from 1 May has still not been realised – the hryvnia remains in circulation. In Kherson, pensions and social benefits are to continue to be paid by Ukrainian institutions. Russian soldiers, after receiving their pay, exchange roubles for hryvnias in exchange offices. In unofficial circulation, foreign currencies, above all the dollar, are gaining in importance. Difficulties in the rapid introduction of the rouble have led the occupier to announce a four-month transition period allowing payments in Ukrainian currency. During this time, it is planned to open Sbierbank outlets and introduce regulations requiring local entrepreneurs to open ruble accounts with it.   In the Zaporizhzhia Oblast, the Russians are forcing residents to fill in documents on land ownership. On presentation of these, cultivation licences will be issued. Failure to register acreage risks confiscation. Security has been tightened in some Ukrainian cities from 7–10 May as authorities anticipate that rocket fire will increase in connection with Russian Victory Day celebrations. The mayor of Ivano-Frankivsk called on the population to temporarily leave the city and not to gather in public places. In Zaporizhzhia, a stricter curfew was announced, including a ban on movement around the city.   The third stage of the UN-led evacuation of Mariupol has been completed. So far, over 500 civilians have left the city, including 200 people from the embattled Azovstal metallurgical plant. In between transports, aggressor troops are shelling the defended facility. The evacuation is expected to continue on 6 May.   In an interview with the AP news agency, Alexander Lukashenko stated that the Belarusian army would not take part in Russia’s war against Ukraine, and that everything Minsk could and can offer Moscow (logistical security of forces, the possibility of air and missile attacks from Belarusian territory) had already been done. He added that the war could be ended within a week, but this would not happen ‘because of the attitude of the United States and Britain’... read more

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