1st 5 minutes says that EM countries like India are booming because they can now buy commodities from Russia in their own currency rather than USDs. Previously acces to USDs was their only constraint. I don’t get it. Previously they could have sold rupees. Bought USD. Paid them to Russia. Then Russia could sell the USD to by Rupees. Sane thing as USD leg nets And in both cases Russia can exchange rupees for whatever it wants if it doesn’t want to hold them.
Excellent. Love Louis’ candour & insights💪🇨🇦
Great global insights!
Great job
Amazing guest, thanks!
Agreed, thank you!
1st 5 minutes says that EM countries like India are booming because they can now buy commodities from Russia in their own currency rather than USDs. Previously acces to USDs was their only constraint.
I don’t get it. Previously they could have sold rupees. Bought USD. Paid them to Russia. Then Russia could sell the USD to by Rupees. Sane thing as USD leg nets
And in both cases Russia can exchange rupees for whatever it wants if it doesn’t want to hold them.
Not having to exchange at all is a lot less costly