Banks issued 118.7 thousand ruble-denominated HMLs for the total of 234.7 billion
rubles (102.6 thousand loans worth 198.9 billion
rubles a month earlier).
Some firms have even had to sell
rubles to get their hands on foreign currencies and that's put further pressure on the
ruble.
After all, memories of the traumatic August 1998
ruble devaluation/default, the 2008 plunge after the Lehman failure/war with Georgia and volatile Kremlin politics/high correlation to oil prices make the Russian
ruble one of the world's least loved petrocurrencies.
The dollar tariffs section of the website will be presented in dollar units and the
ruble equivalent and the subscribers of the current dollar tariffs will be able to keep their chosen tariffs.
A specialist on twentieth-century Russia whose earlier volumes treated Leningrad during the Soviet period and Yaroslavl thereafter,
Ruble here situates late imperial Moscow in relation to contemporary cities outside Russia with which, he argues, it shared important similarities that transcended national differences.
During the two-year period that the
ruble area was losing members and operating with decreasing efficiency, there was much discussion both in the member countries and outside about the best course of action for individual countries.
Hard currency auctions have been introduced, making the
ruble somewhat more convertible.
While growing privatization and monetizing the economy (including making the
ruble convertible with the dollar and other foreign currencies) will continue to produce shockwaves affecting the economy, Potvin is optimistic about the future--particularly because of the changing attitudes he has observed.
MOSCOW -- Russian consumers flocked to the stores Wednesday, frantically buying a range of big-ticket items to pre-empt the price rises kicked off by the staggering fall in the value of the
ruble in recent days.
During the last 5.5 months USD/RUB has edged up from 29.8356 to this year maximum a 33.3727; during this period the
ruble has weakened by 11.86%.
We welcome the initiative of Comparative Economic Studies to publish invited comments on our paper on the IMF and the
Ruble Area.
