The Russian ruble fell versus the US dollar today after Russia’s central bank cut its main interest.
Russian Ruble RUB
Central Bank: Bank of Russia
Public Debt to GDP Ratio, 2015: 13.5%
Trade Balance, 2015: $140.5 bln.
Inflation, 2015: 15.4%
Major commodity exporter
High-yielding interest rates
Factors of Weakness
Political instability and irresponsibility
High-risk emerging country
The Russian ruble is the currency of the Russian Federation, while currencies called “ruble” were also used in the Russian Empire and the Soviet Union. The currency faced a massive devaluation, leading to a redenomination in 1998. The Russian ruble relies on export of crude oil. Therefore the ruble’s performance depends on prices for the commodity.
Russian Ruble News Archive
The Russian ruble dropped today as the meeting of major oil-producing countries in Doha failed to bring an agreement on freezing oil production.
The Russian ruble declined today as prices for crude oil continued to fall, endangering the Russian economy that largely depends on oil exports.
The Russian ruble rose against the US dollar with the help of rising crude oil prices. Comments from Russian President Vladimir Putin perhaps also played a part in the ruble’s rally.
The Russian ruble gained today as a report released during the current trading session showed that the nation’s slowed its decline last month. The currency has not been able to keep gains, though, and trades below the opening level currently.
The Russian ruble fell on Friday, dragged down by falling crude oil prices. Today’s drop followed yesterday’s massive gains that were also caused by moves of prices for crude.
The Russian ruble sank on Monday against the US dollar and the euro but remained well above the all-time lows. On Tuesday, the currency retained weakness versus the dollar but moved a bit higher against the euro.
The Russian ruble dropped today even after the report that the sharp decline of Russia’ economy has apparently ended. It looks like investors are still reluctant to come to the country that is under sanctions from the West.
The Russian central bank made yet another interest rate cut today but warned that the pace of monetary policy easing may slow in the future. The Russian ruble fell after the central bank’s decision.
The Russian ruble dropped today after the central bank made a decision to reduce its key rate as inflation pressure abated. The ruble was strengthening lately following the earlier plunge due to sanctions from the United States and the European Union.