the question is who is selling rub? if i am allowed, probably would buy rub and expect to come back down to sub 100.
It seems like they are halting purchases but not the sales (emphasis added by me): which translates to The Bank of Russia has decided not to purchase foreign currency on the domestic foreign exchange market from November 28, 2024 until the end of 2024 as part of mirroring the regular operations of the Ministry of Finance of Russia related to the implementation of the budget rule. The decision was made in order to reduce the volatility of financial markets. At the same time, the Bank of Russia will continue to conduct foreign currency sales operations on the domestic foreign exchange market in accordance with the previously announced procedure related to the replenishment and use of the National Welfare Fund, including taking into account all operations carried out with the fund's funds in 2023, in the amount of 8.40 billion rubles per day.
To help cover up reality. The ruble will retain value internally simply by being legal tender within Russia. No one outside of Russia, however, will want Rubles unless Russia has agreed to take Rubles in payment for exported Russian commodities. Russia would far rather be paid in stable foreign currencies. Russia can still obtain foreign currencies via exports, but it won't be enough to satisfy their need for imports because of the sanctions which are really beginning to bite hard in a very serious way. Russia has lost the war. It is just a matter of time now. Recall that it was clear that Germany had lost WWII at least a year before the war was officially over. When the allies met at Bretton Woods in July 1944, they knew then that Germany had lost. But VE day wasn't until 9 months later in May of 1945... And just as Hitler could have got away with annexing Poland he misjudged how much further he could push and get away with, Putin, likewise could have stolen Crimea and got away with it, but like Hitler he misjudged how much more he could get away with.
Russia was dumb to invade Ukraine in the first place. It's already got Crimea and the West didn't say much. And now he thinks he can get the entire Ukraine? What was he trying to achieve? This war is a total waste of human lives and resources.