Do you know that the Russian rouble has tumbled over 50% of its value against the US dollar for this year?
So what is the big deal of a huge depreciation of the rouble? And what has sparkled this Russian Rouble Crisis? Now for illustration purpose: if 10,000 roubles can buy an iPhone one year ago, now it takes 20,000 roubles to buy an iPhone!
It simply means that the local currency can’t afford as much import as before due to the collapse of the VALUE of the currency!
So why is the rouble in trouble? What is the central bank doing to stop the tumbling of roubles?
And what is the economical, social and political implication of the fall in rouble? Find out more in our classes to answer all the whats and whys! 🙂