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/news/articles/2016-01-19/tripwire-for-bank-of-russia-seen-closer-as-oil-slump-sinks-ruble) A majority of analysts polled by news agency Bloomberg Wednesday said if the ruble reaches 90 against the dollar the bank will begin its first foreign-currency sales in over a year.
The ruble 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.
The ruble has come under heavy selling pressure this week, falling around 20 percent against the dollar at one stage on Tuesday, sparking fears of financial meltdown, despite the central bank hiking its key interest rate by 650 basis points.
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 in Russia.
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.
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.
Earning per share: 100 rubles up from 55 over the same period of 2007
5 percent -- a move aimed to make it more attractive for currency traders to hold onto their rubles.
MOSKOVA (CyHAN)- People in Russia's flood-hit far east will get 17 million rubles (about $527,187) from the federal reserve fund to help repair flood damage, with a further 16.