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Friday, July 30, 2021

The experts evaluated the collapse of the ruble over the past 30 years

Photo: Sergey Bulkin/NEWS.EN

Over the last 30 years, after the transition to commercial rates, the Russian currency based on the denomination against the dollar weakened by 3.5 times.

Analyst Dmitry Ryshkov noticed that the trend of depreciation of the ruble against the dollar has never changed. According to him, July 1, 1992 the official exchange rate was at around 125,26 of the ruble. Further, without regard to denomination, the dollar rose to 40 thousand times in 30 years.

The Deputy Director of the sovereign ratings and macroeconomic analysis Dmitry Kulikov believes that the ruble in the 90s and the ruble now is a different currency. As stated by the expert, in those years there was a period of hyperinflation, in which the real value of the currency fell very quickly.

It believes inflation is blamed for the almost complete fall of the ruble methodology Anton Prokudin. He said that in 1992 the ruble was five times cheaper dollar. Before the default the Russian currency strengthened to 2.2 times. After a default has occurred a drop to 4.5 times. In recent years, he pointed out, the figure is 2.3 to 3 times.

Expert Michael Seltzer pointed out that 99% of ruble depreciation occurred in the period from late 1990 to the beginning of 1998. The specialist called not to unite three decades until today in the one-step rate changes.

A correct assessment of the changes in the market value of ruble is advantageously carried out in the period after the 1998 default caused by inability to pay the debts of the state. Since then, the ruble against the U.S. dollar and has weakened by 3.5 times, — quotes Zeltser RIA Novosti.

As previously reported NEWS.ru the second wave COVID-19 sowed panic in world commodity and financial markets. This week the fall showed the major stock market indices and oil prices. The price of benchmark Brent crude fell below $37 for the first time since the end of may. Against this background, the Russian currency has lost all growth in previous weeks, the dollar again reached the level of 80 rubles. Experts believe that oil prices may continue to decline up to $30 per barrel utyanuv for a Russian currency.


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