The ruble is on a crash course downward trend, its downward trend in the 15d, month, 3m, 6m, year, 2y, 5y and so on and as economists say, it’s in a death spiral. This last week is what they call a dead cat bounce.

Putin makes the russian central bank prop it up as good as they can, but after inflation& crazy 21% rates the only thing left is selling what they have for rubles (mostly yuan if I got that right) but that can’t go on forever because they are burning millions worth of $ a day ($50M ?) just to delay the inevitable.

Putin is trying to stay afloat until Donald enters the white house, but all it shows is that the russian economy is in the toilet.

The youtube channel “Econ Lessons” explains all this way better than me, with a nice backdrop. Or “Joe Blogs” russian economy videos too.