/biz/ - Business & Finance

>>55815330
The ruble is falling against literally every currency now, it's not just the dollar. When your relative value falls against that many currencies it stops being an issue of trade, the other currencies are indicating that your currency's own internal value is in decline. Even then, decline solely against the dollar can still be indicative of internal value decline, currency exchange rates are used not just for trade but for showing relative internal value as well, and the dollar is an indicator currency that often shows just that. I have no idea where this cope came from that currency valuation only matters with trade.

>>18631661
The problem is that millions of jobs are tied up in the oil industry now that would need time to transition into non-oil jobs. Giving them the boot all at once doesn't give them enough time to be absorbed back into the economy and compounds upon the unemployment issues that are already mounting from other sectors. You'd need to lower the price of oil gradually to allow for a smooth transition, not just dump it all at once.