Slumping Russian ruble threatens German economy - top exec:
"Thirty-six percent of companies assume that they have to cancel their projects," He cited the results of the poll, recently carried out by the German Chamber of Commerce in Russia among almost 300 German companies. Ref. Source 6
Ruble Gains 4th Day as Russia Exporter Demand Outweighs S&P Risk:
The ruble gained for a fourth day as tax payments and speculation Russian exporters are being pushed to sell foreign currency outweighed concern that the sovereign's credit rating will be cut to junk. Ref. Source 6
Ruble Rallies 34% After Biggest Russian Intervention In 5 Years:
Since the Russian Ruble troughed at almost 80 RUB/USD, it has rallied an impressive 34% erasing most of the dramatic devaluation of December. However, as The CBR just announced, this 'strength' came at a price. Ref. Source 5
Russia Abandons Petrodollar by Opening Reserve Fund:
The Kremlin announced it will open its $88 billion sovereign wealth fund and flip it for rubles. The plan will see Russia convert as much as $8 billion to rubles (~500 billion) over a two-month span and place them in deposits for banks Ref. Source 3
Russian ruble collapses to 7-month low on weak oil prices:
The ruble was trading at 71.04 to the dollar at the close of trading in Moscow, its lowest level since Jan. 30, when Russian markets were hit by a combination of low energy prices and Western sanctions. After the market closed, the ruble recovered slightly in futures trading in an indication that it may recover some of its losses. Ref. Source 6b
Ruble will make 'Made in Russia' a global brand - World Bank economist:
"For the first time in decades, "Made in Russia" Might have a chance to become again a global trademark. As the weaker ruble created a price advantage for some industries, export volumes started to rise, in turn generating investment in certain sectors," Ref. Source 3y
I'm not looking forward to this but I know it is coming. We are already struggling to stay on top of the world but we've wasted too much on building up China and oils prices that it has given Northern Asia a good grasp on the global economy.
International Level: Junior Politician / Political Participation: 87 8.7%
Russia's ruble hits all-time low against dollar:
The ruble hit a historic low on Wednesday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014. Ref. Source 4j.