Russian man throws cash in mall as ruble becomes ‘effectively worthless’

Footage apparently taken at a mall in Russia appears to show a man throwing money in the air and raining it down on shoppers below.

The value of the Russian currency plummeted after President Vladimir Putin ordered Russian troops to cross the Ukrainian border, with the ruble losing more than 64% against the dollar so far this year to hit an all-time high.

The latest figures indicate that one ruble is currently equal to £0.0065, or $0.0085, and with the trend unlikely to change anytime soon, a buyer appeared to abandon the currency entirely.

The video, which has been shared on a number of Reddit threads, shows what appear to be banknotes floating on the lower level of the mall as a man on an upper level throws cash over the railing, literally making it rain money.

Alongside the video, one of the accounts that shared the footage wrote, “Russian man throws money in mall because ruble is actually worth nothing.”

published at4 days ago

While the sight of someone actually giving away free money would normally be enough to start a frenzy among members of the public looking to grab it for themselves, no one on the lower level of the mall seemed to care to take possession of money – perhaps due to its low value.

In a bid to halt the currency’s decline, Russia’s Central Bank this week issued an order barring customers from withdrawing US dollars, saying owners of foreign currency accounts were only allowed to withdraw up to $10,000. Any remaining money that customers wanted to withdraw would have to be withdrawn in rubles.

Ruble banknotes (Alamy)
Ruble banknotes (Alamy)

Similarly, while the opening of new foreign currency accounts is still allowed, only rubles will be able to be withdrawn, The New York Times reports.

The order is expected to remain in effect until September 9, during which time banks will also be barred from selling foreign currency to Russians. By issuing the order, the bank apparently hopes to limit customers’ ability to convert their rubles into other currencies in an effort to support its own.

The bank explained that currency controls have been tightened following sanctions imposed by Western leaders, who have restricted access to much of the Central Bank’s hard currency reserves as the war in Ukraine continues. .

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Peggy P. Gilmore