Rouble Trouble

Russian rouble hits fresh record

trouble  rouble
In early December, the nosedive of the rouble looked overwhelming. Earlier this month, experts reported about next world record of the rouble against the majors. At that time, the rouble slumped to 68 per euro and to 54,58 per dollar, but for the most experts it wasn’t a surprise, so it didn’t become a tragedy.

On December 10, the rouble traded at 68,07 per euro on the Moscow exchange, it was around 1,2 rouble higher than on the previous day. As per the analysts’ opinion, the euro and dollar will continue the growth, that’s why at the moment the exchange rate looks very attractive. The euro and dollar continue to advance, they only changed the pace of growth against the rouble.

The statement of Russian Prime Minister Dmitry Medvedev had a slight impact on the exchange market dynamic. Speaking to officials, the Prime Minister said that the rouble was “very undervalued” and that it “would recover”.

However, later that day the rouble dropped due to the oil news that the leading suppliers continued to cut the prices for 2015 and it would lead to worsening the market crisis. Few days later the exchange rate lost more than 6%.

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