Verified by: True Team
Recently, a screenshot was circulated on the Internet, saying that an old man converted $1 million in the bank into rubles last month, and when he wanted to convert them into euros yesterday, the rubles were worth only 88,000 euros (about 97,600 US dollars), in other words these rubles have lost 90% of their value. As a result, “the old man fell to the ground with a cerebral hemorrhage on the spot and was taken by an ambulance”. The screenshot also stated that the old man went to the bank to exchange euros because he “heard that Russia prohibited foreigners from holding and selling Russian assets, bonds and other specific measures.”
This screenshot has no specific information such as people, detailed locations, banks, etc. However, after verification, the key statement in the screenshot seriously contradicts the facts.
First, the devaluation of the ruble was not that exaggerated. According to the financial website investing.com, the low point of the ruble dollar against the ruble in the last month was around 75, that is, 1 US dollar can be exchanged for 75 rubles. After the conflict between Russia and Ukraine began, the ruble began to fall, and the highest point was 115 as of March 3. about. In other words, the ruble has depreciated about 35% against the dollar and about 30% against the euro. Converting from dollars to rubles and then to euros is unlikely to be a huge loss of 90%.
Second, the statement in the screenshot that “Russia prohibits foreigners from holding and selling Russian assets, bonds and other specific measures” is contradictory. Because it is not possible to have a “no holding” and a “no selling” at the same time. The actual situation is that, in response to the sanctions, some of the measures Russia has taken are: suspending brokerage firms from accepting foreign investors’ entrustment of selling Russian securities – that is, foreigners cannot sell stocks through Russian brokerage firms; Carrying foreign currency cash out of the country. In other words, holding rubles is unaffected, and foreigners holding rubles in foreign countries are even more unaffected.
So this screenshot is fake and just a joke.
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