The Russian ruble has reached an all-time low and dropped by 0.86 rubles to a value of 36.75 rubles to the dollar and by 1.24 rubles to 50.82 rubles to the euro. The previous record was 36.7295 rubles to the dollar on March 6, 2009. Dmitry Piskulov, Chairman of the board of the National Currency Association, explained that the ruble dropped as soon as Russia had announced plans to sent forces to Ukraine on Saturday.
The economist explained that the population had gotten scared of US economic sanctions and started exchanging money. The Central Bank may back the ruble up, believes the expert. He predicts that the panic would soon end, though the exchange fluctuation will continue for a while. The Central Bank will react.
Alexey Kuznetsov, Head of the Center for European Studies of the IWEIR of the RAS, noted interests of speculators. He does not consider the decline of the ruble a surprise, regardless of how low it fell. The expert cannot predict the currency rate for the next 1-2 days.
The Russian ruble has reached an all-time low and dropped by 0.86 rubles to a value of 36.75 rubles per dollar and by 1.24 rubles to 50.82 rubles per euro. The previous record was 36.7295 rubles per dollar on March 6, 2009. Dmitry Piskulov, Chairman of the board of the National Currency Association, explained that the ruble had dropped as soon as Russia had announced plans to sent forces to Ukraine on Saturday.The economist explained that the population had gotten scared of US economic sanctions and started exchanging money. The Central Bank may back the ruble up, believes the expert. He predicts that the panic would soon end, though the exchange fluctuation will continue for a while. The Central Bank will react.Alexey Kuznetsov, Head of the Center for European Studies of the IWEIR of the RAS, noted interests of speculators. He does not consider the dropping rubles a surprise, regardless of how low it fell. The expert cannot predict the currency rate for the next 1-2 days
