Saturday 8 August 2015

Russian ruble falls

For first time in the last six months the Russian ruble depreciated again. Yesterday it worth 70 rubles for one euro and 64 rubles per $ 1. Experts predict that the decline may continue because of the depreciation of the oil and Western sanctions against Moscow.


The currencies of many developing countries, especially those that export oil and gas continue to depreciate because of the worsening situation in China and the increase of the dollar.
In late July the Central Bank of Russia announced that reduces the base interest rate in the country by 50 basis points to 11%. This decision aims to boost the Russian economy.

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