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News
January 15, 2009 | news
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The devaluation of the Russian ruble during the last several months of the global economic crisis was expected. Today the rate of the US dollar surpassed the record level for the last several years and the current exchange rate is 32 rubles to the US dollar. In the middle of December 2008 I was very fortunate to meet and provide my services again for my repeat client from EuroMoney, Guy Norton. He travels frequently to Moscow to interview bankers from the major Russian banks about the current news in the financial markets. In mid-December, all the bank managers told Guy about the imminent fall of the ruble against the main currency players: the USD and the Euro. They predicted the ruble would fall against the dollar in the near future. During the final months of 2008, our government along with the Central Bank of Russia, spent billions of dollars to keep the rate of the ruble from being devalued. Now in 2009, the government is letting the ruble float with the market against the major currencies. Today I heard on the radio that the US dollar reached the highest level in the past several years and that it is expected to go even higher to possibly 34 or 36 rubles to the dollar. I was thankful to my friend Guy Norton who had notified me in advance of this possible devaluation so that I was able to immediately exchange all my savings from rubles to US dollars and Euros.
I will keep you updated on the currency exchange rates in an effort to help with your travel planning. |
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Moscow, Russia 
Contact Info: Arthur Lookyanov