The Ruble Weakening is Bad for the Average Russian

Against the backdrop of such forecasts and the actually observed graph of the depreciation of the ruble, trade is indeed placed in difficult conditions. After all, those rubles that they earned yesterday for a unit of goods, tomorrow, even with the profit received, may not be enough to purchase another of the same thing abroad. It doesn’t matter if it’s a car, a lathe, a knitted T-shirt or a kilo of coffee.

So one of the members of the Duma told us that average Russians don’t care for the Dollar-Ruble exchange rate. And he is right. So let me take you down to the ruble devaluation's downward effects and the interest rate increase to 12 percent.

To be fair, we live charmed lives because the US dollar is what is known as an index currency. Others peg to our value, not the other way around. So the dollar rarely is affected by things like this. So I will use my experience growing up abroad and yet another Russian economist. The quote above comes from the article I am using.