Russian Ruble

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Russian Ruble

The currency of Russia. It was issued in 1998, replacing the Soviet ruble (which was also called the Russian ruble after the fall of the Soviet Union). Despite the issue of a new currency, it lost 70% of its value against the U.S. dollar in six weeks as a result of the Russian financial crisis. It is a floating currency.
References in periodicals archive ?
com, an online trading platform, said in terms of trade, one would expect a falling rouble could weigh on imports of goods into Russia.
The bank's rate decision did little to buttress the rouble, which fell below 55 to the dollar for the first time on the Moscow Exchange shortly before the announcement and continued falling afterwards, hitting 55.
Moody's noted that there is a risk that the rouble may fall further given the growing geo-political uncertainties.
3 billion roubles, but it was a third of the 102 billion roubles which Rosneft reported in the first quarter.
Sergey Mikhailov, CEO of Cherkizovo Group said: "While the current economic environment continues to exert a somewhat negative influence on consumption patterns, our performance reflects the impact of favorable rouble pricing and continued sales momentum.
For the last two weeks, Russians have been queuing up to exchange their roubles for dollars as the economy went into free-fall.
It was the first time the Central Bank had taken such action during the current crisis, indicating the government was giving up efforts to stem the fall of the rouble.
A move by the Russian central bank has steadied the Russian rouble.
The Rouble has been pressured for months by falling oil prices, dollar strength and broad risk aversion to Russian assets due to Western sanctions over the Ukraine crisis.
As we demonstrate in this note, the rouble has maintained a rather tight correlation with the oil price over approximately the past 10 years.
He and Masha Radina from Nomura also noted that in dollar terms, investments could be even lower next year, if the rouble depreciates, as envisaged by the Economy Ministry.