Russian Ruble Not Getting Hit by Rising Oil Prices

(edited)

Like Turkey's lira, the Russian Ruble was expected to take a hit from rising oil prices, but it's working out that way. Moscow has managed to triple the Ruble's correlation to crude.

Edited by Kate Turlington

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Be sensitive....

Russia is a millenary nation,that has been in the same place for thousands of years...(MAGOG-See the Quran-Alexander the Macedonian )

On the other hand ,we have been here for ONLY 2-300 years.

Never underestimate history....it is repetitive...

Never underestimate what the Russians can do...

Napoleon and Hitler lost the war in the same place,and for the same reasons....

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(edited)

Rouble might have been at 50 rub per $ but russian  government prefers a stable exchange rate around 60-65. So they buy foreign currency and put them in reserves. Without this exchanging thanks to very large trade surplus and positive current account rouble should probably strenghen a little bit. I think its about  20% too weak because of sanctions in comparison with fundamental value just look on Big Mac index.

Edited by Tomasz

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