Putin decrees foreign bondholders to be paid in rubles

marketwatch.com

> According to Saturday’s decree on servicing foreign-held debt, payments will be considered made if they are carried out in rubles at the central bank’s official rate.

Does that differ substantially from the real exchange rate? How much of a haircut is this for most people?

> Does that differ substantially from the real exchange rate?

Official rate is 105.8124 RUB/USD (per Bank of Russia website right now)

Current market quotes i’m seeing are 138.501, so the official rate seems to be about 30% below market.

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