Advertisement

Devaluation of the Ruble: Losses and Benefits

  • V. F. NitsevichEmail author
  • S. N. Glagolev
  • V. V. Moiseev
  • O. A. Sudorgin
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 138)

Abstract

The article deals with the problem of the weakening of the national currency in crisis and Western sanctions caused by the events in Ukraine. As a result of a sharp and prolonged drop in oil prices and other commodities, foreign currency earnings to our country has decreased significantly, there were problems with the filling of a profitable part of the federal budget.

With the economic crisis, burdened with anti-Russian sanctions, the Central Bank of the Russian Federation together with the government, it was decided to devalue the national currency. Saving the international reserves, the central bank refused to interventions to stabilize the exchange rate. The article shows how the devaluation of the ruble contributes to filling the state budget it affects the economy, the living standards of citizens.

The latest developments in Syria, related to the missile strikes of the United States, Britain and France, convincingly showed the weakness of the national currency of Russia. It falls down not only because of the decline in its economy, but also from negative news reported by the media.

Keywords

Anti-Russian sanctions State policy The devaluation of the ruble 

References

  1. 1.
    Glagolev, S.N., Moiseyev, V.V.: Problems of Foreign Investment in Russia in the Face of Economic Sanctions, 295 p. Publishing house BSTU, VG Shukhov, Belgorod (2014)Google Scholar
  2. 2.
    Moiseev, V.V.: Russia in a global crisis: a monograph. Direct Media, p. 803 (2014)Google Scholar
  3. 3.
    Official site of the Central Bank of Russia (2018). http://cbr.ru/. Accessed 29 Nov 2015
  4. 4.
    Rate of the dollar to the ruble Forex. http://www.profinance.ru/currency_usd.asp. Accessed 14 Apr 2018
  5. 5.
    The bridge to the island “Russian” was called “useless construction for $1 billion” (2012). http://www.vl.aif.ru/society/people/56358. Accessed 14 Apr 2018
  6. 6.
    Who benefits from the devaluation of the national currency of the Russian Federation. Danish Sci. J., no. 6, 33–38 (2017)Google Scholar
  7. 7.
    Bulgaria - “viner” or “loser” in the saga of the “South Stream”? (2016). https://inosmi.ru/politic/20160126/235168502.html. Accessed 18 Aug 2017
  8. 8.
  9. 9.
    Vladimir Putin took part in the VIII summit of the BRICS. http://kremlin.ru/events/president/news/53101. Accessed 14 Apr 2018
  10. 10.
    Reserve approach: why does the Ministry of Finance increase the volume of currency purchases. https://rueconomics.ru/300622-rezervnyi-podhod-zachem-minfin-uvelichivaet-obemy-zakupok-valyuty(reference. Accessed 14 Apr 2018

Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  • V. F. Nitsevich
    • 1
    Email author
  • S. N. Glagolev
    • 1
  • V. V. Moiseev
    • 2
  • O. A. Sudorgin
    • 2
  1. 1.Shukhov Belgorod State Technological UniversityBelgorodRussia
  2. 2.Moscow Automobile and Road State Technical UniversityMoscowRussia

Personalised recommendations