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Overheard: Ruble in the Rubble
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By May 2015 the Russsian ruble had recovered to 50 to the dollar from the low of 80 to the dollar in 2014. In August 2015 the ruble declined to 70 to the dollar as oil prices dropped below $40 per barrel. GDP growth showed a decline of 4.6% for the economy in the 2nd quarter of 2015. The ruble has lost close to 50% of its value in 2015 compared to the prior year.
Russian ruble volatility in Dec 2014 and Jan. 2015
12/16/2014
Capital controls are ruled out as this could lead to more capital flight. Russian central bank reduces intervention to preserve foreign currency reserves.
Grouped Articles
Ruble Strengthens After Central Bank Acts
Wall Street Journal 12/18/2014
Russia Introduces Measures to Calm Economic Jitters
New York Times 12/17/2014
Ruble Crisis Is Testing Russia's Resources
New York Times 12/17/2014
New York Times 12/18/2014
As Ruble Falters, Russia Forces Exporters to Reduce Foreign Currency
New York Times 12/23/2014
As the Ruble Swoons, Russians Desperately Shop
New York Times 12/16/2014
Russia's effort to prevent the ruble from collapsing in December 2014
12/15/2014
Russia raises interest rates by 6.5% to 17% on December 15, 2014, as the price of Brent crude drops below $60. Emerging markets see money outflows in anticipation of the the U.S. Federal Reserve raising rates in 2015, adding to pressure on the ruble. Western sanctions imposed after Russian intervention in Ukraine has reduced access to financial markets for Russian businesses that borrowed in U.S. dollars and have large payments due in 2015. The large increase in interest rates pushes Russia into a recession in 2015.
Grouped Articles
Russia Moves to Help Lift Sinking Ruble
Wall Street Journal 12/16/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Ruble Strengthens After Central Bank Acts
Wall Street Journal 12/18/2014
Russia Introduces Measures to Calm Economic Jitters
New York Times 12/17/2014
New York Times 12/18/2014
Interest Rate Raised to 17% in Russia
New York Times 12/15/2014
The pressure on the Russian ruble in 2014-2015
10/10/2014
Weak economic conditions, capital outflows and demand from the corporate sector to repay debt, add to the pressures on the ruble in 2014.
Grouped Articles
Russian Companies Clamor for Dollars to Repay Debt
Wall Street Journal 10/10/2014
Russian Ruble Fall to Fresh Lows
Wall Street Journal 10/10/2014
Inflation-Racked Russia Considering Price Controls
Wall Street Journal 10/10/2014
Ruble Slide Worries Wealthy Russians
Wall Street Journal 10/11/2014
Global Oil Glut Sends Prices Plunging
Wall Street Journal 10/15/2014
Wall Street Journal 11/03/2014
The Bank of Russia and the decision to float the ruble in Nov. 2014
11/19/2014
With Russia's dollar currency reserves dropping to $421 billion, less than enough to cover 6 months of imports, the Bank of Russia had no option but to let the ruble float freely, say experts. The ruble was at 46 to the dollar by mid-Nov. 2014. Experts say it would have to fall to 50 to the dollar to risk financial stability.
Grouped Articles
Bank of Russia Chief Defends Ruble Float
Wall Street Journal 11/19/2014
Oil Slide Deepens, Ruble Crumbles
Wall Street Journal 12/01/2014
Wall Street Journal 12/02/2014
Ruble Strengthens After Central Bank Acts
Wall Street Journal 12/18/2014
Ruble’s Fall Tests Governor of Russia’s Central Bank
New York Times 02/09/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Elvira Nabiullina, head of Russia's central bank, and efforts to use the decline in the ruble to reduce Russia's overdependence on imports
03/12/2013
Nabiullina is one of the liberal economists who see the period following the devaluation of the ruble in 1998 as generating higher economic growth because it lowered the cost for industry and agriculture. She sees the crisis as a way to get Russians to use less imports and promote import substitution for a healthier economy.
Grouped Articles
Putin Pledges Stimulus for Russian Economy
Wall Street Journal 06/21/2013
Russia Is Facing Stagflation, Central Banker Says
Wall Street Journal 01/17/2014
Russia Says It Has Weathered the Worst of the Economic Storm
Wall Street Journal 04/03/2014
Ruble’s Fall Tests Governor of Russia’s Central Bank
New York Times 02/09/2015
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Russia's GDP growth 2015-2016
08/25/2015
Grouped Articles
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Putin’s self-destructing economy - The Washington Post
Washington Post 01/18/2016
Severstal and the Russian steel industry- surging profits and growth with the decline in the ruble 2014-2015
06/16/2015
The steel industry and the chemicals industry are bright spots in the Russian economy, helping Russia weather the economc downturn in 2014-2015. Costs denominated in rubles have fallen much further, increasing profits and helping Severstal expand.
Grouped Articles
Upsides for Steel Industry in a Russian Downturn, Despite Sanctions
New York Times 06/16/2015
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Russia and Turkey Show Oil Prices Aren’t Everything
Wall Street Journal 01/25/2016
U.S. Sanctions Give Russian Economy an Unintended Boost
WSJ 10/16/2018
Winners and losers in emerging markets in 2015 with lower oil prices- Turkey and India are winners, China a beneficiary, Russia, Venezuela and Brazil are losers
01/18/2015
The economic prospects of emerging market countries have changed significantly since 2013. In Turkey political problems and a high current account deficit led to a slump in the lira and high interest rate policies by early 2014. In India the Congress party government let the economy drift in 2013 with no action taken. The newly elected Modi adminstration in 2014 and now lower oil prices are giving a major boost to economic growth in India. China with huge oil imports is also a beneficiary as it tackles problems from the boom years and growth slows to below 7%.
Grouped Articles
Turkey’s economy: Saved by the well
Economist 01/18/2015
Monetary policy in India: The cycle turns
Economist 01/18/2015
Oil Prices Slump as Inventories Rise Near 80-Year Highs
Wall Street Journal 02/05/2015
India Growth Rate Set to Rival China
Wall Street Journal 02/10/2015
Turkish Officials Seen Stoking Crisis as Lira Hits Record Low
Wall Street Journal 03/05/2015
A Windfall for China as Commodity Prices Plunge
Wall Street Journal 03/16/2015
Russia's effort to prevent the ruble from collapsing in 2009
05/09/2006
Russia used up a third of its foreign exchange reserves to defend the ruble, from November 2008 to early February 2009, as the global financial crisis escalated.
Grouped Articles
Russian Ruble Slips to 7-Month Low as Investors Grow Cold
Wall Street Journal 09/23/2010
Yaroslavl: A Russian Burg Turns Bearish
BusinessWeek 03/12/2009
Russia Bonds Still Confront a Deep Chill
Wall Street Journal 04/04/2009
Medvedev Chooses Critic for an Interview Debut
Wall Street Journal 04/15/2009
Russian Ruble Hits Fresh Record Low Against Dollar
Wall Street Journal 10/06/2014
Russian Ruble Fall to Fresh Lows
Wall Street Journal 10/10/2014
Recovery in the Russian ruble by May 2015
05/14/2015
The Russian ruble goes from a low of 80 to the dollar in Dec. 2014 to 50 to the dollar by May 2015. The euro also strengthens against the dollar with weakening economic conditions in the U.S. reversing the strength of the dollar.
Grouped Articles
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Russia and Turkey Show Oil Prices Aren’t Everything
Wall Street Journal 01/25/2016
Why the Russian Economy Is Tumbling
New York Times 04/12/2016
The expected sales decline of 35% for 2015 in Russia's automobile market with the sharp decline in the ruble
02/09/2015
International automakers raised prices by as much as 56%, according to PwC. With the sharp decline in the ruble auto sales fell by 24% in January 2015. Sales are expected to be down by 35% for 2015, according to PwC.
Grouped Articles
Russian Car Sales Skid Lower Amid Economic Gloom
Wall Street Journal 02/10/2015
Ruble’s Fall Tests Governor of Russia’s Central Bank
New York Times 02/09/2015
How Looming Recession Is Unsettling One of Russia’s Boom Cities
Wall Street Journal 03/17/2015
GM to Close Russian Assembly Plant
Wall Street Journal 03/19/2015
Changing Course, Russia Will Sell Rubles Instead of Buying
New York Times 05/14/2015
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
The impact of the declining ruble on the Russian economy by December 2014
12/04/2014
The ruble declines to 52 to the dollar by Dec. 2014, losing about 40% of its value in 2014. Oil prices decline to about $67 for Brent crude by Dec. 2014 accelerating the fall in the ruble.
Grouped Articles
Falling oil prices hit Russia much harder than Western sanctions - The Washington Post
Washington Post 12/04/2014
Washington Post 12/04/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Weak Ruble Keeps Russians at Home
Wall Street Journal 12/14/2014
Russia Moves to Help Lift Sinking Ruble
Wall Street Journal 12/16/2014
Oil Prices Plunge With Brent Crude Below $60
Wall Street Journal 12/16/2014
Russia's economy 2015-2016
08/25/2015
Grouped Articles
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Russia’s turn to China: A gap between rhetoric and reality - The Washington Post
Washington Post 09/06/2015
Putin’s self-destructing economy - The Washington Post
Washington Post 01/18/2016
Prepare for serious turbulence in Russia - The Washington Post
Washington Post 01/18/2016
Russian Economy Stumbles as Stocks and Oil Prices Fall
New York Times 01/21/2016
Why the Russian Economy Is Tumbling
New York Times 04/12/2016
Russia's tech startups 2010-2015- failure to invest in transforming a commodity based economy
09/09/2014
Grouped Articles
Russia's Tech Startup Scene Retreats Amid Ukraine Conflict
Wall Street Journal 09/09/2014
Global Oil Glut Sends Prices Plunging
Wall Street Journal 10/15/2014
How Looming Recession Is Unsettling One of Russia’s Boom Cities
Wall Street Journal 03/17/2015
Overheard: Ruble in the Rubble
Wall Street Journal 08/25/2015
Russia’s turn to China: A gap between rhetoric and reality - The Washington Post
Washington Post 09/06/2015
The effect of lower oil prices and other economic problems on the Russian economy 2015-2016
01/29/2015
Grouped Articles
Russia Lifts Crisis Cost Estimate
Wall Street Journal 01/29/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
How Looming Recession Is Unsettling One of Russia’s Boom Cities
Wall Street Journal 03/17/2015
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
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