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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