The fall in the exchange rate of the ruble against other foreign currencies is called devaluation. In Russia, the ruble exchange rate is pegged to the currency basket, consisting of 55% dollars and 45% euros. It is floating, fluctuating within the currency band.
There are a number of reasons for the depreciation of the ruble. The first is the sharp increase in pressure on the ruble, which was especially significant during the crisis. To maintain the national currency, the state was forced to spend $ 70 billion. In order for the ruble exchange rate to remain at the level of 26-27 per dollar, the government "threw" about $ 2 billion into the market a day. This led to the fact that gold and foreign exchange reserves fell by a quarter. Economists believed that if this situation repeats itself, then the gold and foreign exchange reserves will exhaust themselves in less than 1 year. But their funds are spent not only on maintaining the national currency, but also on supporting the corporate sector of the economy represented by such companies as Gazprom, Rosneft, Transnef and others. The second main reason for the fall in the ruble is the decline in world oil prices … According to experts, at an oil price of $ 50 per barrel, a dollar costs about 32-35 rubles. If oil costs $ 40 per barrel, then one dollar will be equal to about 40 rubles. The following situation is typical for the economy: the lower the oil price, the cheaper the ruble and the more expensive the dollar. After all, the main prerequisite for the well-being of the Russian budget and gold and foreign exchange reserves is petrodollars. This means that if petrodollars become three times less, then the ruble will cost three times cheaper. The fall in the ruble exchange rate inevitably occurs against the background of the outflow of large volumes of capital abroad. During the crisis, the population of the country, remembering the experience of past years, begins to convert ruble savings into foreign currency. All this leads to a sharp reduction in the amount of national money and a decrease in their value. The problem that arises when the ruble depreciates is the possibility of saving savings. Experts disagree on this issue. Some of them offer to keep money in rubles, some - in foreign currency, and the most cautious offer to transfer part of the funds into foreign currency, and part - into rubles.
