Stronger oil prices give rouble a boost
The rouble has enjoyed a boost as a result of stronger oil prices, with investors looking to alternative markets due to political concerns in Europe. Russia’s currency saw a steady decline in value against the US dollar over much of 2012 as the currency sought to find its place in a changing market. However, it [...][continue reading...]
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In the run-up to the Games, the 2014 Sochi Winter Olympics caused a stir for all the wrong reasons. International journalists were quick to criticise the country for its rushed attempts at preparing for the event, sharing images of unfinished hotels and conference rooms and criticising the “shambles” around the site. President Vladimir Putin's recent [...]
Ratings agency Standard & Poor's (S&P) has held Russia's investment rating steady at BBB. The decision will come as something of a blow to the government, which was hoping for its first upgrade in five years before potentially launching a $7 billion bond sale. However, the agency opted to keep the rating at the second-lowest [...]
Russia’s central bank has offered further indications that it is going to float the rouble at the beginning of next year. Confidence in the Russian economy has stabilised recently in the aftermath of Western sanctions placed on the country over its involvement in the Ukraine crisis. Yesterday (17 June), the central bank revealed that it [...]