One way down?

Simon Alagbe

Analyst

Only one way for the Russian ruble(RUB), Hungarian forint (HUF), Polish zloty (PLN)?

Sequel to a long political and economic decline the Union of Soviet Socialist Republics (USSR) was officially dissolved on the 26th December, 1991. Hungary was never a part of the USSR but was a member of The Council for Mutual Economic Assistance (COMECON), an organisation controlled by the Soviet Union while Poland was a satellite nation of the Soviet Union. 

The current imbroglio between Russia and Ukraine has brought about economic hardship to the region as the sanctions and counter sanctions in addition to the effect of wars has waned on the economy. 

The Russian ruble leads the plunge and has robbed off on countries previously associated with the Soviet Union and this is expected to continue until the peace talk between the two countries lead to a ceasefire. 


Trade opportunities

The current situation has made trading decisions easier as those nations currencies continue to spiral downward meaning most currencies outside of the Union will appreciate against them.  


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