has been trading around the 55 mark against the dollar over the past few days having slid at one point last week to around 80.
On the other hand, the Russian ruble
has lost reportedly almost 30 percent against the dollar, specific to this quarter.
If the Kremlin fails to stabilize the ruble
soon, panic could spread, triggering an even more massive run on banks and a sharp surge in inflation that could swiftly erode Putin's support.
Having more non-ruble
debt hedged means Russian companies have further flexibility to increase non-ruble
exposure, a critical factor considering that despite its improvements, the ruble
debt markets remain far tighter than Western markets.
Brent has another $10-$15 downside risk but I doubt if the ruble
falls below 34 to the dollar even in a oil crash scenario.
The final chapter in the demise of the ruble
area started in late July 1993, when the Russian authorities announced the demonetization of pre-1993 rubles
On Thursday, the Dow plummeted 357 points, and the ruble
fell so far that now anyone in Russia who has a ruble
owes the government money.
CME Russian ruble
futures and options will be the first ruble
contracts available on an exchange outside of Russia, and will be the first Eastern European products traded on the Merc.
The new joint venture is a majority-owned ruble
business that relies on locally sourced equipment, supplies, and labor, and direct sales to hospitals through a new sales and distribution network.
For the average foundry worker, however, his 270 rubles
a month (approximately $45 at current exchange rates) pays the rent and puts food on the table, although housing is so inadequate that many families are forced to share an apartment and grocery stores stock little more than bread, canned fish, cabbage and potatoes.
6 billion rubles
to provisions for loan impairment.
correspondingly interest to be paid against one bond: The