The crisis in the Eurozone, associated with the problems in Greece, as well as the fact that some other European countries are on the verge of a similar situation, however, does not lead to the fact that the euro has fallen significantly against the ruble. On the contrary, in mid-2012 there is even some growth in relation to the ruble.
The reasons why the euro is growing against the ruble should be sought in the Russian economy. The significant drop in oil prices caused the ruble to depreciate significantly. If we take a deeper look at the situation, it turns out that in reality the euro is falling, but the ruble is falling even faster.
The decline in oil prices is partly due to the fact that the American Petroleum Institute has published research results, which indicate that the problems with oil reserves of which so much talk are not observed and are not expected in the near future. World reserves of "black gold", according to the results of the study, are considered quite sufficient for the current market situation. The cost of a barrel of oil has decreased, along with it the exchange rate of the ruble has changed. While the fall in oil prices is expected to be long-term, analysts say Russia's gold and foreign exchange reserves are likely to cope with this trend in a way that avoids a serious economic shock in the country.
The euro exchange rate is also not growing, but the economy of the commonwealth of European countries is much more reliable than the support of the ruble in Russia. Therefore, the euro, in any case, will not decrease in price too fast. Currently, the ruble is falling faster than the euro, so the euro is “growing”. Perhaps the situation in the Eurozone will change, which could lead to the stabilization of the rate of its common currency.
At the same time, it is noted that the population of Russia trusts the national currency and, despite the negative changes in the ruble exchange rate, is in no hurry to transfer their savings into other currencies. A public opinion poll was conducted, during which these details were clarified. In total, about 1.5 thousand citizens of the country were interviewed in 43 regions.
In the long term, significant and sharp growth of the euro is not expected, as the economies of the eurozone countries will not be able to quickly overcome the crisis. This will take time, which means that the euro will continue to fall. The only question is how the Russian national currency will behave. It is the ratio of the rate of change of the ruble and the euro that determines whether the euro will grow against the ruble or fall.
