• Forex Pf Py Graph Dollar Rubles

While we were all panicking about Ebola and the Democrats' getting schooled in the midterms, the bottom dropped out of the Russian economy. The ruble has been nosediving for weeks, despite the fact that the Russian Central Bank has spent some $40 billion over the last two months to prop it up. In January, you would have to shell out. Through October, that number edged higher and higher into the thirties, prompting nervous jokes from Russians as they watched their national currency lose value before their eyes.

Forex Pf Py Graph Dollar Rubles

By November 1, a Russian would need to scrape together over, a drop of over 30 percent. Every day since November 1 has brought new lows for the ruble. By Wednesday, the Russian Central Bank, which had been spending billions of its reserve dollars every day to prop up the Russian currency, announced it was no longer going to do so. It was going to let the ruble float. (Technically speaking, it said that it would “only” spend $350 million a day to prop up the ruble.) The ruble promptly nosedived.

So, you've converted 1 Russian Ruble to 0.015293 US Dollar.We used 65.390371 International Currency Exchange Rate. We added the most popular Currencies and CryptoCurrencies for our Calculator. View a US Dollar to Euro currency exchange rate graph. This currency graph will show you a 1 month USD/EUR history.

By Thursday, the ruble was dropping so fast that people started taking photos of the ubiquitous exchange rate signs around Moscow. Here’s Kirit Radia, the Moscow correspondent for ABC. Last week I changed money here at 42.10 rubles to the dollar. Two days ago I did so at 43.50. — Kirit Radia (@KiritRadia) That picture, and, was taken on Thursday. On Friday, the exchange rate was being tracked not by the day, but.

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The ruble had collapsed to a historic low: nearly 49 rubles to the dollar, nearly 60 rubles to the Euro. (On January 1, one Euro cost only 45 rubles. demark trend lines forex ). “While I was riding the trolleybus, the Euro grew by another ruble,” one Russian journalist. And it looked like it was going to plummet further until the Russian Central Bank to support the ruble.

This isn’t a theoretical currency game. Much of what you see in Russia is imported, especially what the Russian middle class eats, drives, and wears. And the weaker the ruble, the fewer dollar-denominated iPhones you can buy with it. A crashing ruble makes prices do the opposite.

According to the Russian government, projected inflation will hit somewhere between nine and 9.5 percent. Last year, it was 6.5 percent. In the U.S., for comparison, inflation is just. As Buzzfeed yesterday, food prices in Russia have been skyrocketing: dairy is up 15 percent, and meat costs 18 percent more. Thompson Reuters There are several factors that have caused the ruble to disintegrate before our eyes.

One is the ongoing stagnation of the Russian economy, whose growth rate has been hovering near zero for a year. And before that, it was already in decline. Second is the falling price of oil for reasons that have nothing to do with Russia: OPEC its American competition. This is a problem for Russia, which is so heavily dependent on oil that every year’s federal budget is pegged to an oil price. This year’s was $97 a barrel. Meanwhile, oil prices have been far lower than that, hovering in the low eighties. Nasdaq Third is Russia’s Ukraine adventure and Western sanctions.

“Sanctions closed access to foreign capital for five or six Russian companies, but the result is that it’s now closed for everyone,” says Sergey Aleksashenko, a former Russian deputy minister of finance. The result is that, to pay off their debts, Russian companies now have to buy a large amount of dollars to fork over to their creditors. And with that comes the psychological factor: panic.

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“No one knows how far Putin’s going to go and how much economic pain he’s going to be willing to tolerate,” says Aleksashenko. “It’s a perfect storm.” Letting the ruble float free is the Kremlin’s way of opening an umbrella. For one thing, it insulates Russia from the falling price of oil: it may have dropped in dollars, but in rubles but it’s. And yet, what we’re seeing is a major departure from what Putin and his financial wizards usually do in times of crisis: they spend heavily from Russia’s massive reserves to prop the ruble up. This time, the Kremlin has decided to hold its fire, and save its bullets. “It’s a huge policy shift,” says Alexander Kliment, a director of Russia research at the Eurasia Group.

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