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Ruble Lost One-sixth of its Value in a Year
10.01.2021 17:28
Ruble Lost One-sixth of its Value in a Year

The ruble has depreciated by 16.7% against the dollar and by 24.1% against the euro in 2020. The fall was caused by a pandemic, a decline in oil prices, imposed sanctions and the threat of new ones.
      Credit Suisse experts called the ruble the main disappointment of the year. And yet, the weakening of the ruble over the economic history of Russia is not the peak, RBC notes. During the 1998 crisis, the domestic currency fell against the dollar by almost 70%; in 2014, the ruble dipped by 41%. The collapse of the ruble in 2020 was restrained by the Central Bank, during the fall in oil prices in March, the regulator was selling currency on the domestic market. The fall "subsidence" of the Russian currency was restrained by the sale of the remains from the deal with Sberbank and the currency that participated in the deal on the placement of shares of Aeroflot, the newspaper specifies.
      According to forecasts, in 2021, fluctuations in the exchange rate of the national currency will be in the range of 66-82 rubles per dollar. The average exchange rate of the dollar against the ruble next year will be approximately 72.7 rubles, the euro - about 86.55 rubles.


Author: Anna Dorozhkina

Tags: Russian economy     

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