USD/RUB

Well Russia, whats the next play. That rate hike was a temporary road block that was as useful as traffic laws in your country.

Im absolutely staggered at this. Russians, what will you do today!

Unbelievable Volatility on this pair last 2 days. Last few minute candles.

Never forget the golden rule kids: Bulls make money, bears make money, pigs get slaughtered.

If you don't know what you're doing, better take a deep breath and think twice. Just throwing it out there.

This just looks ridiculous on the 1 week chart...

*Grab the popcorn!

http://joyreactor.cc/kurs

ahahaha

RIP ruble.

haha the central bank is run by oafs. capital controls wouldve stopped this nonsense.

now its getting silly- 74.11, versus 50s the other day?

whats the point in having an exchange freely floating for russia? they should ban float asap and do like chinese yuan

Russian index for today, Big drop. Would settle in for a volatile day on markets and be careful with orders.

"capital controls wouldve stopped this nonsense"
Maybe if they start doing something 4 month ago.

Would imaging this will have some effect on what the Fed says. Flows moving into Yen at the moment.

what the fuck !!!!

80
never seen anything like this
russia central bank has no idea

If you're unsure what influence capital controls can have on your positions or why you are taking the position you are taking, I recommend watching this from the sidelines.

Have just had to ring Alpari to close a trade since they have ceased trading on this pair . Never done that before, although my last quote price on mt4 was 69ish and he quote me 75, hoping this comes in a nice profit, What a Day!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

CBR is intervening. If you're long make sure you have enough of a cushion to withstand some shocks or plan your stop losses accordingly. I think they'll push it to low 70s.

After this I think controls are in short order.

Can you please clarify what you mean? Thanks.

Finally it's time. Stay small with the longs.Very small.

where are you looking at? Thanks

Capital controls (restrictions on currency exchange).

Put it this way: the CBR just showed it has absolutely no ability to influence the ruble through interest rates, which is what it told the market it would do after it announced the free float. Since it can't manage the currency with interest rates, and due to continued risk/excuse of oil prices going down more, and because the CBR doesn't have unlimited foreign currency reserves, it has to do something different.

Simply put, the CBR can't play this same game. It needs to change the rules. I think capital controls are those "new rules." The unfortunate part is that this will clearly be idiotically timed. Like I suspected their current hike announcement was premature and ill timed.

Just hit 70. Told ya.

This was probably the biggest intervention by the CBR to date in my opinion. If they let the rub go up to 80 again after such an intervention, the head of the CBR should be taken in the middle of the Red Square...