The russian rubel is devalueating
Bad news
It is no longer a good time for russian economy and this is showing through devaluation of the russian valuta – the rubel – that these past month has falling drasticly. Russia can however take a look at the economies in the rest of the world, where the likely situations are taking place.
Down by one fifth
Today the rubel went to a new lowpoint reaching the lowest value toward the euro and dollar since the breakdown of the Sovjet Union. A euro costed today 42,55 rubels while a dollar costed 32,24 rubles. This means that the rubel has lost one fifth in value since the financial crisis started for real in august last year.
The factors that causes the devaluation
It is especially the fast falling demand on russian oil and gaz that has caused this crisis. Financial experts are warning that Russia is close to a recession probably on a direct way to depression.
The demand from the russian consumers
This financial situation might end up being a disaster to Europe, since many companies, kitchen companies to name an example, have been exporting tons of kitchens to Russia.