Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/121931
Authors: 
Dreger, Christian
Kholodilin, Konstantin
Year of Publication: 
2015
Citation: 
[Journal:] DIW Economic Bulletin [ISSN:] 2192-7219 [Volume:] 5 [Year:] 2015 [Issue:] 44 [Pages:] 587-591
Abstract: 
The Russian economy is tightly woven into the global economy, and is therefore highly dependent on the development of exchange rates. Since 2014, the ruble has fallen by more than 50 percent against the US dollar. The devaluation goes hand in hand with the Western sanctions that were imposed due to the political tensions between Russia and Ukraine. At the same time, the decline in oil prices may also have contributed to the ruble's depreciation. The study at hand examines the relative importance of the different factors influencing the ruble's exchange rate. It turns out that the devaluation is mostly due to the falling oil prices, while the sanctions are playing a rather subordinate role.
Subjects: 
political conflict
sanctions
oil prices
Russian ruble depreciation
JEL: 
C22
F31
F51
Document Type: 
Article

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