Excerpt from:  GFT Analysts in the News
.
November 07, 2008

Russia's Ruble May Be Devalued

Oil prices may mean a lower ruble in currency trading
Right now, oil prices are remaining rather low. And, because oil is a main source of income for Russia, this has not been helping the economy nor the currency.

As a result, there is talk that the Russian ruble may have to be devalued. Russian leaders are mulling a 30% devaluation in the ruble.

Even efforts to help maintain the currency at a certain rate against a basket of the euro and the dollar has not helped.

Bookmark and Share
Topic Tags:  currency, currency trading, dollar, euro, forex trading, oil prices, Russian ruble

Syndication OptionsRSS (Rich Site Summary) Feed Atom Feed OPML (Outline Processor Language) Feed MYST-ML (MyST Markup Language) Content Feed MS-Office Smart Tag Subscription