Russian Rubles: Dollar is Unstable!

Friday, 16th of November:

Things have gotten worse for the US dollar on the Moscow Interbank Currency Exchange (MICEX). The Dollar currently stands at 24.48 RUR/USD, RUR 0.04 below the official exchange rate set by the Central Bank for November 17-19. (weekend numbers)

The ruble’s appreciation against the dollar is due to the Euro’s renewed rise against the American currency on international markets. The euro is currently trading at about $1.4650, up from $1.4595 as of 15:00 Moscow time. This means that the euro has strengthened by 0.4 percent against the dollar during this short period. (means the Euro is kicking the Dollars butt!)

This week has been uneven for the US dollar. Having risen by RUR 0.08 against the ruble on Monday and Tuesday, the dollar dropped RUR 0.04 to 24.49 RUR/USD on Wednesday, in line with developments on international markets, where the dollar fell 0.5 percent against the European currency. On Thursday, it dropped by a further RUR 0.03 against the ruble, but recouped the loss on Friday, rising by RUR 0.06 to 24.52 RUR/USD. Having recovered against the euro on Thursday, the dollar was expected to end the week in a positive mode.

But… The Dollar decided to go the other way. (Down)

The Dollar is starting to become unstable. The World markets will not be able to support it forever.

I say it will stay above water until Christmas is over! Then sink like a rock.

Sad but true!

Kyle

comments always welcome.

Iran calls for US nuclear apology!

Hello,

Remember that Russia and China are in support of Iran. That is why this article is in this Blog!
From what I am reading Russia and China both are getting more than a little bit fed up with the USA treatment of Iran.
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Iranian President Mahmoud Ahmadinejad has said the US and its allies should apologise for their treatment of Iran over its nuclear programme.

Mr Ahmadinejad said the latest report by the UN’s International Atomic Energy Agency (IAEA) showed Iran had been truthful about its nuclear activities.

The IAEA found Iran had clarified some of its nuclear history but questions remained over present activities.

The US has vowed to push for further UN sanctions in the light of the report.

The IAEA report praised Tehran for making progress in responding to questions about past activities but warned that the agency’s knowledge about Tehran’s current nuclear programme was diminishing.

It said that Iran was continuing to enrich uranium in defiance of demands by the UN Security Council.

“Selective co-operation” was “not good enough”, the White House said after the report’s release on Thursday.

Meanwhile, a meeting scheduled for next week to discuss further sanctions against Iran has been cancelled because China has pulled out, diplomats say.

‘Political victory’

Iran has portrayed the IAEA’s latest findings as a political victory.

“Since the first days, we have declared that Iran’s nuclear activities are lawful and in the framework of its legal rights, but the Western countries’ propagation networks and political pressures did not allow the Iranians’ voice be heard in the world,” Mr Ahmadinejad is quoted by state media as saying.

“Now the whole world has seen that the news was not true and Iran’s activities have been clean and peaceful and all the main questions of the IAEA have received their appropriate answers.”

Mr Ahmadinejad said the time had come for the US and its allies to change their behaviour. “Upon wrong and incorrect information you issued two resolutions,” he said, referring to two earlier rounds of UN sanctions.

“Now that you have found out that this information was wrong, you have to be brave and come forward and tell the Iranian nation ‘We made a mistake’ and apologise.”(RBC)

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The USA just says that the report is wrong.

I keep saying: America get your own ducks in order. Stay on that side of the world. Let the Super Powers on this side of the world deal with their fellow neighbors!

Oh I forgot…. Oil, That is the Name of the Game!!!!

Kyle

comments always welcom.