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Rouble appreciation in the spotlight on energy revenues

Published: 19 March, 2010, 19:06
Edited: 22 March, 2010, 03:17

Oil prices holding at above $70/bbl mean Russia is enjoying strong energy revenues and boosting its current account surplus. But that might not help the economy.

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2 COMMENTS

Enrique March 20, 2010, 10:40 quote

The most important thing is keeping inflation under control. As far as inflation keeps falling, the Russian Central Bank can continue its policy of cuts in interest rates. Usually, if the rouble strengthens that means inflation goes down too. So first, cut inflation; in China inflation is very low so they can keep a weak yuan. And after inflation is under control a weak rouble should come next for exports of russian manufactured products.

Goran March 22, 2010, 02:36 quote

Indeed, keeping inflation low is of paramount importance. There are many nations on par with the American dollar that have large exports just fine. Russia must focus on curbing its high inflation, then removing any debt it has, and then it can talk about keeping a weak rouble.

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