because it's depreciated, it's worthless. Russia's economic growth has slowed down obviously, and the GDP growth rate is slow. Russia obtains foreign exchange to protect the liquidity of banks, the Russian central bank has no intention to support the ruble, and the Ukrainian crisis has intensified market risk sentiment, so the devaluation of the ruble has become worthless.

Extended information:

Foreign currency, in English, is a creditor's right held by the monetary administrative authorities (central bank, monetary management institutions, foreign exchange stabilization fund and the Ministry of Finance) in the form of bank deposits, treasury bills, long-term and short-term government securities, etc., which can be used when the balance of payments is in deficit.

including foreign currency, foreign currency deposits, foreign currency securities (government bonds, treasury bills, corporate bonds, stocks, etc.) and foreign currency payment vouchers (bills, bank deposit vouchers, postal savings vouchers, etc.). China ranks first in foreign exchange reserves of governments around the world. However, the United States, Japan, Germany and other countries have a large number of private foreign exchange reserves, and the overall foreign exchange reserves of the country are much higher than that of China.

foreign exchange refers to all assets owned in foreign currency. It refers to the flow of money between countries and a specialized business activity of exchanging the currency of one country for the currency of another country to pay off the international creditor's rights and debts.

In fact, it is the creditor's rights held by the monetary administrative authorities (central bank, monetary management institution, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds of the Ministry of Finance, long short-term government bonds, etc., which can be used when the balance of payments is in deficit. Freely convertible foreign exchange is the foreign exchange that is used most in international settlement, can be bought and sold freely in the international financial market, can be used to pay off creditor's rights and debts in international finance, and can be freely converted into other countries' currencies. Such as US dollars, Hong Kong dollars, Canadian dollars, etc.

Limited convertible foreign exchange refers to foreign exchange that cannot be freely converted into other currencies or paid to a third country without the approval of the currency issuing country. The International Monetary Fund stipulates that all currencies that have certain restrictions on international current payments and capital transfer are limited freely convertible currencies. More than half of the national currencies in the world are limited convertible currencies, including RMB.

financial foreign exchange, different from trade foreign exchange and non-trade foreign exchange, belongs to a kind of financial asset foreign exchange, such as foreign exchange bought and sold between banks, which is neither derived from tangible trade or intangible trade, nor used for tangible trade, but for the management and manipulation of various currency positions.