Wednesday, March 23, 2016

Some Positive Impacts Of Russia's Ruble Devaluations On The Country's Economy--Moody's

From Sputnik:

Russian Gov't Protected Public From Oil Price Fall by Devaluing Ruble
Moody's Investors Services said that the impact of the decline in global oil prices on regions in Russia has been cushioned by an accompanying decline in the value of the ruble versus the US dollar.
WASHINGTON (Sputnik) — The impact of the decline in global oil prices on regions in Russia has been cushioned by an accompanying decline in the value of the ruble versus the US dollar, the New York-based Moody's Investors Services announced.

"Russian regions have been protected from the full impact of weaker oil prices by a devaluation of the ruble," Moody’s said in a report on Tuesday.
The Russian government’s devaluation of the ruble had boosted ruble-denominated earnings from oil exports, which are priced in US dollars, the report noted....MORE
Also at Sputnik, Jim Rogers buys Russian sovereign bonds, in rubles.