Is that a strategy to make money long term or a necessity at this point? I kind of understand stock buybacks companies do but I'm not familiar with currency buybacks.
To keep people from selling the ruble and buying dollars and euros because they fear their money will become worthless.
If Russians stop accepting rubles and use foreign currency for transactions, the Russian govt stockpile of rubles, and it's ability to print more rubles, becomes worthless. They will need foreign currency to pay people.
