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 <p>In what can be called an unprecedented gamble, the Central Bank of <a rel="noopener noreferrer nofollow" title="Russia" href="https://thebittimes.com/tag/russia.html">Russia</a> pausing the US dollar exchange in foreign currency has paid off as the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> member’s local currency, the <a rel="noopener noreferrer nofollow" title="Ruble" href="https://thebittimes.com/tag/ruble.html">Ruble</a>, outperformed the USD this month in November. The US dollar performed exceptionally well against the <a rel="noopener noreferrer nofollow" title="Ruble" href="https://thebittimes.com/tag/ruble.html">Ruble</a> this year making the currency fall to an all-time low of 101 last month. However, <a rel="noopener noreferrer nofollow" title="Russia" href="https://thebittimes.com/tag/russia.html">Russia</a> decided to pause all US dollar exchanges in the currency markets to keep the <a rel="noopener noreferrer nofollow" title="Ruble" href="https://thebittimes.com/tag/ruble.html">Ruble</a> from crashing.</p>
 <p><strong>Also Read: BRICS: 155 Countries Sign Belt &amp; Road Initiative With China For Trade</strong></p>
 <figure class="wp-block-image size-full"><img decoding="async" width="577" height="737" src="https://cdn.thebittimes.com/images/2023/11/15/dcd0b85b5c7ec977e07814c8e4a4e8bb.webp" alt class="wp-image-119013" srcset="https://cdn.thebittimes.com/images/2023/11/15/dcd0b85b5c7ec977e07814c8e4a4e8bb.webp 577w, https://cdn.thebittimes.com/images/2023/11/15/dcd0b85b5c7ec977e07814c8e4a4e8bb.webp 235w, https://cdn.thebittimes.com/images/2023/11/15/dcd0b85b5c7ec977e07814c8e4a4e8bb.webp 380w, https://cdn.thebittimes.com/images/2023/11/15/dcd0b85b5c7ec977e07814c8e4a4e8bb.webp 550w" sizes="(max-width: 577px) 100vw, 577px">
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   Source: Yahoo Finance
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 <p><strong>Also Read: Gold Prices To Rise $700 Per Ounce As U.S. Debt Spirals</strong></p>
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 <p>Surprisingly, the gamble from the BRICS country paid off as the Ruble outperformed the US dollar this month. The Russian Ruble recovered from 101 and is now trading at 87.90 on Wednesday. The 14-point recovery occurred after the country paused all US dollar exchanges to help the Ruble climb up.</p>
 <p>Additionally, Russia also dumped rubles and Yuan sets worth 0.8 billion Rubles equivalent to $8.7 million in the currency market. The move helped the Ruble trade in large numbers in the foreign exchange market outperforming other currencies. It is reported that Russia initiated large amounts of ‘buy’ and ‘sell’ to keep the Ruble on top.</p>
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 <p><strong>Also Read: What Happened To the U.S. &amp; Global Markets Overnight? Here’s A Summary</strong></p>
 <h2 class="wp-block-heading" id="h-brics-the-ruble-outperforms-the-us-dollar-in-the-currency-exchange-market">BRICS: The Ruble Outperforms the US Dollar in the Currency Exchange Market</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="580" src="https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp" alt="usa russia flags countries brics" class="wp-image-118700" srcset="https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 1024w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 300w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 768w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 1536w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 380w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 550w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 800w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 1160w, https://cdn.thebittimes.com/images/2023/11/15/f14b8df43ed8fa02138d8d17b228285d.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Freepik
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 <p><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> member <a rel="noopener noreferrer nofollow" title="Russia" href="https://thebittimes.com/tag/russia.html">Russia</a> is managing its economy and currency despite being sanctioned by the White House. The Putin administration is pulling all tricks in the box to keep its economy afloat and not collapse with sanctions.</p>
 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Currency To Be Attractive Than US Dollar, Pound &amp; Euro: Minister</strong></p>
 <p>BRICS countries are doing everything to contain the rising US dollar and help their local currencies sustain in the market. The BRICS members are going out of their way, including interfering in the currency markets to keep the US dollar from rising.</p>
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 <p>India is also accused of market intervention as Reuters reported that the country dumped massive amounts of US dollars to keep the Rupee from falling.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>Ruble</li>
  <li>Russia</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-russia-pausing-us-dollar-exchange-pays-off-ruble-outshines-usd-tbt70416.html">https://thebittimes.com/brics-russia-pausing-us-dollar-exchange-pays-off-ruble-outshines-usd-tbt70416.html</a></p>

BRICS: Russia Pausing US Dollar Exchange Pays Off, Ruble Outshines USD

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