What’s Happening to the Ruble?

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August 25th, 2015

From TvZvezda.ru translated by Soviet Bear

“Today,
the ruble is fairly well placed in the movement that we see in the Forex
market, and nothing extraordinary happens, the ruble just adapts to cheaper oil,”
said  Professor, Sergey Khestanov in an interview to the “Zvezda TV”. He
added that the oscillations similar to the ongoing, are cyclical and temporary
in nature, and the fall is always followed by the growth.

If the oil will fall to 30-40 dollars per
barrel, the ruble in the worst case scenario will reach 80-105 rubles per
dollar – according to the forecast was given by the expert. 

Global stock exchanges are experiencing one of
the most dramatic collapses suddenly Asian, middle Eastern and European stock
markets have tumbled in minus. In the US the situation is same – the auction
opened there with a decline in the major indices. The reason is rapidly falling
oil prices.

A barrel of Brent crude oil on the London
stock exchange have fallen in price below forty-four dollars because of the
panic at the Chinese stock market and predictions on further weakening of
economic growth in China. All of this has affected Russian national currency.

The official dollar rate set by the Central
Bank for tomorrow is 70 rubles 74 kopeks, Euro 81 ruble 15 kopecks.

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