The devaluation of the ruble: what is it, and what are its consequences?
The devaluation of the ruble ... What it is, perhaps, would never want to remember the representatives of older generations. After all, this process means that the exchange rate of the national currency decreases relative to different values at different time periods. Until the thirties of the last century, this term meant that for paper currency, their gold or silver equivalent is reduced. Then the method of conducting currency policy began to be called, with the use of which the parity of the monetary unit of one state with respect to the monetary unit of another state is reduced. This is facilitated by different levels of inflation and the state of balance of payments.
Strong shock
When in recent decades there has been asignificant devaluation of the ruble? What do they know, those who had ruble savings in 1998, when for a few days the exchange rate of the national currency fell from 6 to 20-25 rubles per dollar, and the state defaulted on its obligations. Later, at the end of the last century, the ruble became even cheaper relative to the US dollar, and in 2000 it was given about 40 cents. Since then, the value of Russian money has changed in one direction or another, but over 14 years their depreciation has occurred within acceptable limits, up to 29-30, and recently to 33-34 rubles per dollar.
The reasons for the devaluation in Russia
What does the revaluation or devaluation of the ruble depend on? What is this in terms of general economic processes? Experts believe that for the Russian economy, the decisive role in the formation of exchange rates is played by energy prices, The state's revenues largely depend on their level. For example, in the spring of 2012, the price of Brent blended by 30 percent, which could not but affect the value of the ruble. It fell more than 18%, from 28.8 rubles. up to 34.1 rubles. for one dollar.
The devaluation of the ruble in 2013 did not becomeexception from the rules. During this period, the price of oil fell from 118 to 102 dollars per barrel (13.5%), which led to the fall of the ruble from 30 to 33 units per unit of American currency. In the process of devaluation, international speculators, as well as raw materials companies and ordinary citizens, take part in it, which (in the memory of negative experience) often try to get rid of Russian money. It is also interesting that the increase in energy prices does not always or not immediately affect the strengthening of the Russian ruble.
Current situation and consequences
Is there a devaluation of the ruble in 2014? What is it today? It is assumed that at current prices of 34 or more rubles per dollar, the slowdown in the economy is to blame, where costs and incomes are growing. In addition, today the volumes of consumer lending are decreasing, and the outflow of capital from the country is proceeding. Therefore, the Central Bank considered it permissible to weaken the national monetary unit.
The consequences of the devaluation of the ruble area set of negative factors, among which: appreciation of imported goods for the population, including medicines, household appliances, electronics, a change in the market valuation of property of enterprises in terms of foreign currency. Strong devaluation processes reduce consumer spending, cause discontent among people due to the price increase, The Russian economy buys many products and products abroad.
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