The russian rubel is devalueating

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Bad news

It is no longer a good time for russian economy and this is showing through devaluation of the russian valuta – the rubel – that these past month has falling drasticly. Russia can however take a look at the economies in the rest of the world, where the likely situations are taking place.

Down by one fifth

Today the rubel went to a new lowpoint reaching the lowest value toward the euro and dollar since the breakdown of the Sovjet Union. A euro costed today 42,55 rubels while a dollar costed 32,24 rubles. This means that the rubel has lost one fifth in value since the financial crisis started for real in august last year.

The factors that causes the devaluation

It is especially the fast falling demand on russian oil and gaz that has caused this crisis. Financial experts are warning that Russia is close to a recession probably on a direct way to depression.

The demand from the russian consumers

This financial situation might end up being a disaster to Europe, since many companies, kitchen companies to name an example, have been exporting tons of kitchens to Russia.

Written by admin

januar 15th, 2009 at 10:14 pm

Posted in economics

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