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Keyword: ruble

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  • This Is A Trend: Increasingly More Russian Companies Set To Drop Dollar, Switch To Chinese Yuan

    06/10/2014 12:49:52 PM PDT · by Olog-hai · 53 replies
    Zero Hedge ^ | 06/09/2014 07:52 -0400 | Tyler Durden
    As we have been reporting (and forecasting for the past several years), the Eurasian anti-US Dollar axis is rapidly taking shape, with recent events catalyzed and certainly accelerated by US foreign policy in Ukraine, which has merely succeeded in pushing Russia that much closer, and faster, to China. The latest proof of this came overnight when the FT reported that Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers. According to Pavel Teplukhin, head of Deutsche Bank...
  • Russia's Oil Industry Is Doing Fine, Which Is Great News For The Kremlin

    Russia’s economy had a pretty bad 2013 and there’s simply no point in arguing otherwise. The economy decelerated sharply and is likely to end up with somewhere between 1.3 and 1.4% overall growth. That’s not the apocalypse (heck, it’s not even a recession) but it’s clearly sub-par. Such low growth will quickly  become an enormous problem for the authorities if it continues for much longer.
  • Secondary meaning of Russian phrase

    03/15/2013 9:11:18 AM PDT · by Sokol · 14 replies
    3/15/2013 | Sokol
    Quick question about the phrase: Не имей сто рублей, а имей сто друзей. English: "Don't have a hundred rubles; have a hundrfed friends." The question is: Does this seemingly innocent phrase have a double meaning in Russian? Besides the obvious "have a lot of friends (and be poor)" meaning, Can it also mean - in context, "Better watch your back..."?? I have tried out this phrase with my poor Russian through the years to various Russians and they have not received the phrase well. Maybe it was my awful Russian, I don't know. This all has to do with a...
  • Churches of the Solovki Monastery Crowned With Cupolas and Crosses on 500 Ruble Banknote

    09/16/2011 8:35:54 AM PDT · by marshmallow · 6 replies
    Interfax ^ | 9/15/11
    Moscow, September 15, Interfax - Depiction of Orthodox crosses appeared on a new 500 ruble banknote issued on September 6. Official website of the Bank of Russia represents a drawing of the new banknote, on its backside crosses crown churches of the Solovki Monastery. The previous banknote depicted the monastery in its "Soviet" variant without crosses. Depictions of cupolas and crosses appeared at the banknote after Patriarch Kirill's petition to Russian President Dmitry Medvedev, head of the Synodal Department for Church and Society Relations Archpriest Vsevolod Chaplin told Interfax-Religion on Thursday. He reminded that once when the Patriarch visited Solovki...
  • Yuan Begins Trading Against the Russian Ruble

    11/23/2010 8:33:23 AM PST · by FromLori · 12 replies
    The internationalization of the Chinese yuan took another step forward by beginning its trade against the Russian ruble in the countrys interbank market on Monday. The China Foreign Currency Trading Center announced that the interbank yuan-ruble trade will be conducted in the form of spot exchange transactions and will follow the market maker rule. According to the announcement, The Peoples Bank of China authorizes the Foreign Exchange Trading Center to announce a middle rate for the pair at 9:15 a.m. local time every business day. The pair can float 5 percent above or below the middle rate; wider than the...
  • Russian ruble to go palladium

    06/05/2009 1:28:11 PM PDT · by pobeda1945 · 20 replies · 901+ views
    Pravda ^ | 05.06.2009
    Boris Gryzlov, the speaker of the Russian Parliament, the State Duma, said that the participants of the Economic Forum in St. Petersburg would discuss a possibility of making ruble coins from precious metals. We could offer the world the Russian ruble made of palladium. It would be a very strong currency. One may recollect the golden ruble, which Russia had during the tsarist times. It was a freely convertible currency and was circulating very well, Gryzlov told reporters Thursday. The President of the Association of Russian Banks, Garegin Tosunyan said that the coins made of precious and semi-precious metals would...
  • Russian President may push 'new world currency'...

    06/02/2009 10:40:25 AM PDT · by Dubya-M-DeesWent2SyriaStupid! · 61 replies · 1,566+ views
    Drudgereport .com Headline ^ | June 2, 2009 | Drudgereport .com
    Russian President may push 'new world currency'
  • Why Russia Is Collapsing? (Russian banks using bailout money used for shorting rubles)

    02/13/2009 8:36:15 PM PST · by TigerLikesRooster · 20 replies · 1,059+ views
    Motley Fool ^ | 02/12/09 | Nate Weisshaar
    Why Russia Is Collapsing By Nate Weisshaar February 12, 2009 | Comments (6) Speaking at the World Economic Forum in Davos, Switzerland a few weeks ago, Russian Prime Minister Vladimir Putin declared he would break from the recent pastime of blaming America for the world's economic struggles. /snip Thank you very much And while our own bank executives were pulled in front of Congress this week to explain the reasons for their astronomical bonuses and failures to increase lending despite taxpayer-funded recapitalizations, Russia may have an even bigger problem on its hands. That's because Russia's bankers took a rather different...
  • Russia: Ruble Collapse Brings Wages Back to Earth(economic bubble collapse?)

    01/17/2009 11:20:21 PM PST · by TigerLikesRooster · 10 replies · 1,025+ views
    The Moscow Times ^ | 01/16/09 | Courtney Weaver
    Ruble Collapse Brings Wages Back to Earth 16 January 2009 By Courtney Weaver / Staff Writer The days of spectacular wage growth that made Moscow an international employment destination have come to an end, economists say, with layoffs throughout the economy letting employers bring salaries back in line with productivity growth. The earnings cuts, alongside inflation and the weakening ruble, have dealt Russian wage earners a triple whammy, and the Central Bank's devaluation of the currency Thursday brought it past the 32 mark against the dollar for the first time since the 1998 redenomination (Story, Page 7.) Over the past...
  • Russia lifts rates to 12pc to save rouble as crisis deepens

    11/12/2008 2:30:56 AM PST · by TigerLikesRooster · 23 replies · 295+ views
    Telegraph ^ | 11/12/08 | Ambrose Evans-Pritchard
    Russia lifts rates to 12pc to save rouble as crisis deepens Russia's central bank has raised interest rates a full percentage point to 12pc to prevent a collapse of the rouble following a day of mayhem on the Moscow markets, prompting concerns that the financial crisis may be spiralling out of control. By Ambrose Evans-Pritchard Last Updated: 8:47AM GMT 12 Nov 2008 The surprise move last night came after the authorities had spent $7bn of foreign reserves in a matter of hours trying to defend the currency, at a lower level. The central bank has now spent $84bn of its...
  • Russian ruble could be used in oil trade deals in Iran - envoy

    02/21/2008 2:52:51 AM PST · by TigerLikesRooster · 1 replies · 30+ views
    Ria Novosti ^ | 02/15/08
    Russian ruble could be used in oil trade deals in Iran - envoy 15/02/2008 15:30 MOSCOW, February 15 (RIA Novosti) - The Russian ruble could be used as a payment instrument for deals on an Iranian oil exchange, the Islamic Republic's ambassador to Moscow said on Friday. "Possibly in the future, we'll be able to use the ruble, Russia's national currency, in our operations," Gholamreza Ansari said, adding that the Islamic Republic was currently busy launching a new oil trade exchange. The Islamic Republic's oil minister, Gholam-Hossein Nozari, earlier said that Iran would launch on February 27 a commodities exchange...
  • Putin, Ahmadinejad and the New Currency Cold War

    09/29/2007 11:08:52 AM PDT · by Tailgunner Joe · 8 replies · 108+ views
    canada.com ^ | September 28, 2007 | Diane Francis
    There is a sinister reason why the U.S. dollar is falling against all currencies, pushing the Canadian Loonie to parity and way beyond to US$1.25 in a year or so. There is a Currency Cold War being waged by Russia, Iran and various allies such as Venezuela. Putin wants to force the use of euros as a reserve currency instead of dollars for oil and other transactions, then eventually the ruble. This is simply a monetary version of the old Cold War, minus the missiles. Alliances are falling along the usual lines: In Russias camp are Americas enemies or...
  • The Almighty Ruble

    08/08/2007 2:13:02 AM PDT · by vertolet · 4 replies · 311+ views
    The New York Times ^ | August 8, 2007 | ANDREW E. KRAMER
    MOSCOW, Aug. 6 The ruble got no respect. During the cold war, it symbolized the backward Soviet economy. After the U.S.S.R. collapsed, it was an avatar of instability. Even plumbers in Moscow often preferred to be paid in bottles of vodka rather than rubles the bottles did not lose their value. No more. Lifted by high oil prices and a wave of foreign investment, the once humble ruble is showing its muscle, and fueling a consumer boom. After gaining 20 percent in value against the dollar in the last few years, the ruble is even starting to displace...
  • Rubles winning

    01/26/2007 1:07:35 AM PST · by eastern · 6 replies · 340+ views
    Russia-InfoCenter ^ | January 26, 2007 | Olga Pletneva
    Within recent years the dollars prestige has dipped below its exchange rate, affirm sociologists from the Public Opinion Fund. 1500 people living in 100 settlements of 44 regions of the country participated in the poll; the survey showed that the native ruble is 12.5 times more preferable than the American currency. As long ago as 2002 every third respondent believed in the strong position the greenback occupied, but the number of dollar-worshippers reduced 7 times by December 2006. The ruble, at the same time, took the opposite path and doubled its admirers number: from 37 to 63%. This tendency is...
  • Currency Traders: I Could Use a Bit of Information !

    12/10/2006 6:00:08 AM PST · by genefromjersey · 1 replies · 216+ views
    12/10/06 | vanity
    If any of you are currency traders,I'd appreciate a bit of information about the (Russian) ruble: Has anybody been "shorting" it of late ? If so, who (primarily)? Thanks for any help !
  • Duma Approves 25% Bigger Budget

    09/25/2006 5:44:19 AM PDT · by A. Pole · 4 replies · 264+ views
    Moscow Times ^ | Monday, September 25, 2006 | Anna Smolchenko and Oksana Yablokova
    The State Duma on Friday gave preliminary approval to a 2007 budget that is expected to be 25 percent bigger than this year's, prompting worries of overspending and higher inflation as next year's elections near. The hike comes on top of a 40 percent increase this year, as the government spends windfall revenues created by the bonanza of high world oil prices. By a 343-94 vote with no abstentions, deputies passed the draft budget on first reading. Budget spending is to swell to 5.46 trillion rubles ($205 billion), or 17.5 percent of the country's gross domestic product. With expected revenues...
  • Russian Ruble to Be Revalued

    06/19/2006 6:19:06 PM PDT · by G. Stolyarov II · 1 replies · 177+ views
    PanAsianBiz ^ | June 14, 2006 | Dr. Bill Belew
    It seems like no one wants to leave the Chinese alone when it comes to revaluing the yuan. Here is some news that I am sure the Chinese would like to see spread all over the pages. The Russians say their economy is not ready to introduce the idea of a 'floating ruble' yet because it involves: 1. Economic risks 2. Reevaluation (sounds like revaluation) of the state's participation in the economy. Russia's Federal Financial Markets Service Head, Oleg Vyugin, said, "we're not ready." "People think the ruble rate is undervalued," he said. That statement could be put in any...
  • Dollar starts the big slide against major currencies

    05/01/2006 8:17:46 AM PDT · by Crackingham · 187 replies · 3,625+ views
    Times Online ^ | 5/1/6 | David Smith
    The dollar has embarked on a big decline that will see it fall against all leading currencies, according to analysts. The plunge is being prompted by Americas $800 billion (438 billion) current-account deficit, they say. The dollar has been under pressure following last weekends meeting of G7 finance ministers and central bankers, which emphasised global imbalances and said currencies should reflect economic fundamentals. Then China raised its key interest rate to 5.85%, its first hike for months, and Ben Bernanke, the new Federal Reserve chairman, hinted that American rates would pause at 5% after a rise in May. Analysts say...
  • The euro goes down as Paris suburbs being torched

    11/10/2005 9:25:40 AM PST · by Red Badger · 12 replies · 598+ views
    Pravda (Trust but verify...) ^ | 11/10/2005 | Staff
    It is true that the riots in France were not the only reason behind the decline of the euro It is quite natural that 13 days of nighttime unrest on the streets of Parisian suburbs had an overall negative impact on the economic situation in France. The riots impacted the EU financial system since the France is one of the "driving belts" of the EU. The events triggered the so called negative investment and virtually toppled the exchange rate of the single European currency. Yesterday the euro fell to all-time low at the Moscow Interbank Currency Exchange: European currencyit became...
  • Russia abandons effort to tie dollar, ruble (This could be trouble)

    02/05/2005 9:42:08 PM PST · by jb6 · 112 replies · 1,742+ views
    UNITED PRESS INTERNATIONAL ^ | February 5, 2005
    MOSCOW -- Russia has abandoned efforts to tie the ruble's movement to the dollar and has decided to instead shadow both the dollar and the euro. The move has caused experts to predict that other countries could institute similar policies, the Financial Times reported Saturday. The move has also caused speculation that Russia may denominate its oil exports, 81 percent of which goes to Europe, in euros. Russia is second only to Saudi Arabia in oil exports. "Russia has talked about the idea of pricing its oil in euros. If it is starting to put more weight on the euro...
  • Dollar loses 15% in 2 years

    12/30/2004 8:51:40 PM PST · by jb6 · 8 replies · 403+ views
    Russia Journal ^ | December 27, 2004
    MOSCOW - The dollar continued decreasing today and lost RUR0.05. The present dollar rate against the ruble is 27.78 RUR/USD. Having reached its maximum of 31.88 RUR/USD at the beginning of 2003, the dollar started falling on the domestic market. As a result, it has lost RUR4.1, or almost 15 percent, over the past 2 years. Meanwhile, the goal of the government and the Central Bank to decrease inflation at the expense of the ruble's strengthening remains unfulfilled. On the contrary, inflation will reach 11.5 percent by the end of this year against the targeted figure of 10 percent. As...
  • Ruble to become convertible currency by 2007

    02/02/2004 7:30:54 PM PST · by RussianConservative · 2 replies · 123+ views
    Russian Journal ^ | February 02, 2004
    MOSCOW - The ruble will become a convertible currency by 2007, Alexey Ulyukayev, Senior Deputy Finance Minister of Russia, told RBC TV. He said this conclusion was based on the new law on exchange controls, which stipulates that Russian citizens will be free to conduct any capital transactions, including the acquisition of real estate, stocks and the taking out of loans, by 2007. Mr. Ulyukayev said this gave the country a completely different investment climate. I always proceed from the assumption that economic growth is based on investment growth. The better investment climate, the better for the economic climate, he...
  • Finance Ministry: Dollars real value is RUR 11

    12/10/2003 10:53:24 PM PST · by RussianConservative · 4 replies · 98+ views
    Russian Journal ^ | December 09, 2003
    MOSCOW - Today, the real value of the US dollar is RUR 11, reported the Economic Expert Group, an analytical center of the Finance Ministry. According to the Izvestia newspaper, the Central Bank announced its decision to focus on the curbing of inflation. Accordingly, it will pay less attention to supporting the dollar. People calculate their losses since the start of the year, and they realize how much they have lost. They invest in real estate, in order to sell later. The prospect that the Central Bank will abandon its exchange rate policy frightens not only ordinary citizens but also...
  • Belarus to shift to Russian ruble in October

    09/11/2003 7:59:26 AM PDT · by RussianConservative · 1 replies · 174+ views
    Russian Journal ^ | 11 Sept 03
    MOSCOW - On Tuesday, Russian Finance Minister Alexey Kudrin held talks with his Belarusian counterpart Nikolai Korbut and the Chairman of the National Bank of Belarus, Petr Prokopovich. The introduction of the Russian ruble as the only legal tender in Belarus was discussed at the meeting. Mr. Kudrin is convinced that everything is ready for the signing of the agreement, the Kommersant newspaper reports. For their part, Nikolai Korbut and Petr Prokopovich did not argue about organizational issues, but requested that Mr. Kudrin should address the complaints of Belarusian President Alexander Lukashenko. The draft agreement was prepared back on August...
  • Weakening Dollar Making Russia Stronger

    05/28/2003 8:17:18 AM PDT · by RussianConservative · 1 replies · 137+ views
    Reuters | Wednesday, May. 28, 2003 | Andrew Hurst
    . Page 7 By Reuters Russia, basking in a flood of cheap money, may prove to be a big beneficiary of the U.S. Federal Reserve's steady loosening of monetary policy. As interest rates come down, top companies are borrowing heavily in dollars as never before to feed ambitious growth plans. Another side effect of lower U.S. interest rates -- a firming of the euro against the ruble -- also looks like it can give a boost to manufacturers who had been struggling to stay competitive while the ruble steadily gained strength. "The ruble was strengthening but that changed when the...