Beehaw

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We're a collective of individuals upset with the way social media has been traditionally governed. A severe lack of moderation has led to major platforms like Facebook to turn into political machinery focused on disinformation campaigns as a way to make profit off of users. Websites with ineffective moderation allow hate speech to proliferate and contribute to the erosion of minority rights and safe spaces. Our goal with Beehaw is to demonstrate and promote a healthier environment.

Our philosophy:

What is Beehaw?
The spirit of the rules
Beehaw is a Community and more on our Docs Website

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Be(e) nice.

As a news aggregator and a social media outlet, with a focus on being a safe and accepting space, we strive to create a positive social impact. We will, also, help to connect underprivileged and minority individuals with education and civic participation by promoting a healthier online experience.

We currently have a Mastodon account you can follow for major updates: @beehaw at hachyderm.io. You can also join our community Discord or Matrix servers. You can also view our status page.

Our instance is 100% user-funded - help us keep it running by donating.

If you donate, you should know that 100% of the costs will go towards server time, licensing costs, and artwork.

In the future if we need to hire developers or other labor, it would be sourced through the Open Collective Europe Foundation, and it would be transparent to the community before any changes were made.

Our community icons were made by Aaron Schneider under the CC-BY-NC-SA-4.0 license.

Blobbee emojis made by olivvybee on Github.

Our most up to date FAQ can be found here.

founded 3 years ago

ADMINS

Russian Ruble Slides Past 115 per USD to Near 3-Year Low (tradingeconomics.com)

submitted 2 weeks ago by thelucky8 to c/finance

0 comments fedilink

The Russian ruble tanked past 115 per USD in January, the lowest on record when excluding the immediate shock after the start of Russia’s invasion of Ukraine in the first quarter of 2022, as sanctions isolated Russia from global financial and commodity markets.

The currency was halted from domestic trading against major pairs after Western nations sanctioned the Moscow Exchange, magnifying the difficulty for companies to secure hard currency and forcing the Bank of Russia to set forex prices since June.

This added pressure as China’s weakening economy limited demand for goods from Russia’s main export partner, further denting the influx of foreign exchange. The impact on government revenues from energy exports drove Moscow to partially relax the capital controls it had to prop up the ruble, letting it depreciate to support its budget deficit. Despite this, political pressure drove the CBR [Central Bank of Russia] to cut its tightening cycle short in December, compounding pressure on the currency.

Russian rouble tumbles past 110 to the dollar, 119 to the euro, on fresh sanctions (tradingeconomics.com)

submitted 1 month ago* (last edited 1 month ago) by 0x815@feddit.org to c/finance

0 comments fedilink

The Russian ruble plunged nearly 7% to trade at more than 110 per USD, the lowest on record excluding the short-lived selling immediately after Russia launched its invasion of Ukraine, as more sanctions against Russia dampened the outlook for inflows of foreign capital. The US sanctioned Gazprombank, the last major financial institution without penalties, to halt the transfer of payments from foreign markets to pay for Russian gas.

The ruble remained under pressure from Moscow relaxing capital controls as a weaker currency aids the Kremlin’s ability to finance its budget. Mandatory forex conversion for export revenues fell 25% from earlier in the year, significantly reducing demand for rubles.

Russian central bank intervenes to stop currency free fall

Russia's central bank said on Wednesday [27 November] it would stop foreign currency purchases in order to ease pressure on the financial markets after the rouble weakened beyond 110 to the U.S. dollar, 119 to the euro, down by one-third since early August.

The central bank said it had decided not to buy foreign currency on the domestic market from Nov. 28 until the end of the year, but to defer these purchases until 2025.

"The decision was made to reduce the volatility of financial markets," the regulator said in a statement. Since Russia was blocked from using the dollar and euro, it has made foreign exchange interventions using Chinese yuan.

Russia published new economic data on Wednesday highlighting the latest signs of overheating in an economy retooled for the purpose of fighting the war in Ukraine, which has sucked workers out of the labour force.

[Edit typo.]