Hacker News Reader

could also be people buying it to speculate. ie: buy it now that its lost value, wait till the sanctions are lifted, these people could be expecting it to be over soon. when the value goes up, exchange back for your currency of choice ie: dollars, euros, etc etc

View on HN

that would be quite a risky speculation. if you check historical price of rubble over 10 years it was always loosing value [1]

[1] https://www.tradingview.com/symbols/USDRUB/

can be, but that won't stop people from doing it. Because this is all brought on by sanctions, if the sanctions can be lifted and then Russia can continue to sell their commodities, fertilizer etc, it could hypothetically bounce back enough to make you a profit. Usually investors have a certain amount of money they throw at super risky trades, that might fail, so it in the end won't matter much to them if it goes nowhere.

Reply on news.ycombinator.com