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Video that explains the Ruble Crisis in 

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Video that explains the Ruble Crisis in 

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At its peak today - it was more than 80 and 100 rubles respectively. That's despite the government raising the key interest rate from just over 10 percent to 17. This means that bank loans will hike to over 20 percent. Businesses relying on loans will suffer.

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Overall, Russia as a country is not facing any conflicts or issues. Even though, their currency value is very low and they stated that they floated their currency back in 2015. They cannot be called as unstable country or a country that is struggling. However, they are considered to be a strong country. That means that the floatation of the ruble, doesn't affect the standard of Russia as a country.

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Customer prices in Russia increased by 6.1 percent every year in October of 2016. Followed by 6.4 percent growth in November and still below market expectations of 6.2 percent. It was the lowest inflation rate since January 2014, as prices rose at a slower pace for food, housing and utilities, culture, etc. On a monthly basis, prices went up 0.4 percent. Inflation Rate in Russia averaged 133.50 percent from 1991 until 2016, reaching an all time high of 2333.30 percent in December of 1992 and a record low of 3.60 percent in April of 2012. However, you can see that the inflation rate was very high in the beginning of this year, it was 15 and that is the highest it reached this year and that is terrible.

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The terms of trade of Russia are analyzed as the estimation of its exports as the rate of the estimation of its imports. An increase in the terms of trade implies that the estimation of exports is expanding with respect to the estimation of imports. The country can stand to purchase more imports with the income from its exports. For instance, an expansion in the cost of oil increasing , which improves the terms of exchange for the oil-exporting out to countries and brings down it for the other countries. However, even though the value of the Russian currency is low and they floated the ruble in 2015. Russia seems to do well in terms of trade and the economy is stable.

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As you can see, that Russia after the 2008 crisis was not doing bad in term of the value of the currency. However, it wasn't as good as before the crisis yet, it was still on the right track until 2014. Now as you can see the value of the ruble is so low compared to the US dollar. Now, rubles are experiencing the weakest value

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The first thing that comes to mind when we talk about Russia is as known War or Mafia. Russia known as the Soviet Union in both World War 1 and 2. However, the soviet Union has a great history in terms of War, that surely affects it's currency. Many people would think that the Russian ruble's value will increase and be weaker than it is because Russia can declare war anytime due to it's strong army and Mafia. So, that affects the currency value and what people think about it.

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Economic  Conditions (Floating the ruble)

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Economic  Conditions (Floating the ruble)

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One of the great reasons behind the floatation of the ruble:
The Central Bank of Russia was planning to let the ruble float freely by January 2015, but the tense situation on the foreign currency market, the problems in the economy due to failing oil prices and a tense political situation, made the controllers’ work extremely confusing. These combined factors forced the Central Bank to carry out the transition to free-floating ruble two months ahead of schedule.

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By 2014, The Bank of Russia took another step towards a free float ruble by stopping the double currency soft hanger. Before, the bank supported up the ruble when the exchange rate against the euro and dollar exceeded its boundaries. However, sustaining the ruble can cost the Central Bank of Russia billions of dollars per day, coming out of the country’s reserve fund, which means the emergency funds of the country.

In October 2014, the bank was forced to spend $30 billion to defend the weakening of the ruble. On November 5, the bank announced it had limited the investments, it is willing to spend in order to expand the ruble to $350 million per day in order to decrease the instability of the ruble.

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First ruble:
- In 1710, the ruble was given its first subdivision, kopeks, with 100 kopeks making up one ruble.

Second ruble:
- Set at a rate of 1 new to 10,000 old rubles.

Third ruble:
- The Soviet Union issued a redenomination at a rate of 1 new to 100 old rubles.

-There up to six rubles

however, these are the first three

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The Ruble has been the currency of Russia for approximately 500 years; it has been used in various countries throughout its history. There have been different versions of the ruble due to the various changes in the currency's value.

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Click on the picture to see the top RUB exchange rates

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The Russian Ruble is the currency of Russia. The currency rankings that will be shown in the next post show that the most popular Russia Ruble exchange rate is from RUB to USD rate, and the currency code for Ruble is RUB, and the currency symbol is ₽.