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2 thoughts on “turkish gold filled jewelry wholesale Why is Russia's currency depreciation? Why does the United States say?”
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The connection between currency and oil is very simple. Petroleum expensive rubles are strong. The cheap rubles are weak. The following is an example of the 2008 economic crisis. In early 2008, each barrel of oil was $ 90, and in July, the price of oil per barrel was almost $ 147. At that time, the ruble was very strong, and the value of 1 US dollar was only 24.6 rubles. At the end of the year, the oil price plummeted to $ 45 per barrel, and the US dollar exchange rate policy immediately changed. The value of 1 US dollar was 29.4 rubles.
The reason for this situation is obvious. The ruble is a commodity. When the price of oil is high, the transaction volume exported to foreign oil companies increases, and the treasury will have high tax revenue. If the national treasury is rich, the ruble will appreciate. However, after a few years of the wealthy national treasury, the Treasury began to lose. The national budget has deficit, which causes currency problems.
It can also explain this phenomenon easier and technically. From the perspective of oil imports, Russia exports oil to other countries to obtain US dollars and is used as foreign exchange, thus Russia holds more US dollar foreign exchange. When the number of goods increases (currency is also commodity), the price will decline. In this way, the US dollar has depreciated, and the rubles have naturally appreciated. When the price of oil decreases, the situation is the opposite. But this model is no longer running.
In January this year, $ 1 was worth 30.4 rubles, and now more than 33 rubles. In other words, the value of the US dollar exchange rose 3 rubles within half a year. For an enterprise, if you buy $ 50,000 with rubles, you will lose 150,000 rubles. What about oil? Its cost is about $ 110 per barrel, which is the same early this year as it is now. This year, the highest oil price rose to $ 117 per barrel, and the minimum decreased to $ 99 per barrel, but the ruble still depreciated.
The reasons for this situation, there are many ways to say.
This of the US dollar!
The first statement, the official explanation -not that the ruble has been depreciating, but the US dollar has been appreciating. They said that the U.S. economic prospects are good, and a good time for the EU economy has passed.
This year the US stock market defeated the stock market of all developing countries. Analysts listed data: Since this year, investors have invested in the US dollar, and investors have purchased $ 100 billion in US dollars in the United States, while only 8 billion U.S. dollars in developing countries purchased. Moreover, Russia is expected to lose $ 100 billion in the form of capital outflow this year. The situation of the "BRICS" is also not optimistic. China's GDP has only increased by 7.5 % (whether the Russian economy has risen still needs to be observed). As a result, the RMB will depreciate. At the same time, the Ruby in India and Rayar in Brazil will also depreciate. Therefore, the depreciation of the ruble is not the only one.
The Russian strategy
This in the second statement, the Russian authorities intentionally devalued the ruble. This seems to be the effect that the authorities want to achieve. Half of Russia's budget comes from the taxation of oil companies.
The oil exports to get US dollar foreign exchange. Foreign exchange income depends on the tax export of oil exports. The subtleties are here. Petroleum companies have made profits with US dollars and euros, while Russia's budget is calculated based on rubles. The depreciation of the ruble is not necessarily a bad thing for the national budget -to obtain the US dollar from oil exports, and then weaken the ruble, and you can get more rubles with the same number of dollars. Therefore, the authorities deliberately weakened the ruble.
Boris Hainfitz at the Institute of Economic Research confirmed our assumptions. He said that I believe that the government will weaken rubles, which is very beneficial to and supplementary budgets.
Mewus
The third statement-Russia's economic recession, rubles naturally depreciate. Igor Nicholaev, the director of the FBK Strategic Planning Institute, said that at the same time as the national economy stagnate, there is no way to appreciate the currency in the country. Russia has been facing serious budget issues for more than a year. Industrial production declined in June, and the GDP growth data in July was still not optimistic, and all signs showed that the Russian economy would stagnate. Economic development slows down, and the currency is naturally depreciated.
wholesale wiccan jewelry supplies Russia is a country that depends on sale resources, and a large amount of crude oil in the United States has caused oil prices to decline, forcing Russia's fiscal revenue to reduce, currency depreciation