The devaluation of the ruble

      Central Bank of Russia has accelerated the devaluation of national currency
The official euro rate set by the Central Bank at 19 December amounted to 39.7798 rubles. Thus, the day the European currency has risen in price more than on the ruble, but could not overcome a mark of 40 rubles. In trading on the MICEX this psychologically important milestone was passed during the trading session on 18 December. In some Russian exchangers euro exchange rate also exceeded 40 rubles.
The official dollar rate at 19 December was 27.6095 rubles. This is almost nine cents more than the previous day.
The simultaneous increase of the Central Bank of the dollar and the euro means that the corridor fluctuations currency basket (euro 0,45 and 0,55 dollar), in which the Central Bank of restrained fall in the value of the ruble, has been greatly expanded. What is its upper bound is still unclear.
The sharp appreciation of the euro partly due to the fact that the world market European currency continued to appreciate against the dollar. In recent days it has strengthened a few cents and is trading at 1.45 dollars.

Source: Lenta.ru
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The purpose of this policy the Central Bank:

1. Keep the decrease in gold reserves.
But, as we know, these measures did not stop the central bank reserves decrease pollutants. If the November 7, they accounted for 475.4 billion dollars, on 5 December - 437 billion dollars.
2. Saving income exporters of hydrocarbons and metals, in the context of falling prices for oil and metals, by reducing the cost of labor in the country.
The three largest oil producer in Russia - Rosneft, Lukoil and Gazprom Neft - have reported record profits earned on the first nine months of 2008. Most recent being the subsidiary of Gazprom - according to the company, for three quarters of net income of $ 5.2 billion, which is 84.5 percent more than during the same period last year. Revenues Gazprom Neft rose by 86 percent to 27.32 billion dollars.
Despite significant increase in net income, Gazprom Neft is still unable to overtake on this indicator of its competitors. In early December, Rosneft and Lukoil reported that their net profit amounted to 10,76 and 10,3 billion dollars.
3. Reducing the real cost to the State to have a designated social programs at the expense of cheapening the ruble.

What saves the state on social programs, due to cheaper ruble, bude clear at the beginning of next year.

The fact that such a trivial puzzle solves today TSB, confirmed information about the high profits the oil companies.

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In the interest of the citizens!

Central Bank of Russia has once again weakened the ruble.

In the course of trading on the Moscow Interbank Currency Exchange ruble has fallen in price by almost 40 kopecks. (from 33.46 rubles. to 33.81 rubles.), ie more than 1%. The current weakening of the ruble against the currency basket was the seventh since the beginning of the month. The last time the Bank of Russia resorted to such a move as recently as two days ago. In general, for the last four months the value of the ruble fell against a basket consisting of $ 0,55 and € 0,45, more than 13%.
Another psychological mark and reached the U.S. dollar. As of 12:30 Moscow time the value of U.S. currency calculations tomorrow rose to yesterday's figure of more than 25 kopecks. and amounted to 28.6125 rubles. for $ 1. At the opening of trading the U.S. currency was worth even more expensive - 28.66 rubles. Thus, the dollar once again updated the maximum of the ruble over the past three years. However, the dollar has risen in price and the single European currency. The euro exchange rate calculations tomorrow rose almost 39 kopecks. - Up to 40.09 rubles.
Monetary authorities of Russia is consistent in his promise to "smooth" weakening of the ruble. According to the Central Bank first deputy chairman Alexei Ulyukayev, the Bank of Russia deliberately pursue policies in the interests of citizens and businesses, giving them time to choose the currency policies and preventing panic.

24.12. 2008.

Source: Morning. ru
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Central ruble weakened a further 45 kopecks, and he immediately fell to 29 rubles per $ 1 and close to 41 rubles for 1 euro. Soon the ruble can and does go into free swimming. This can happen when the trade surplus will reach negative values, and it is on the right track there.
Friday trading Dollar Breaks Through at 29 rubles, the average U.S. dollar exchange rate calculations "tomorrow" on a single trading session, the MICEX rose by 33 cent and amounted to 29.01 rubles per $ 1. The weighted average euro exchange rate calculations "Today" increased by 59 cents and reached 40.79 rubles.
In relation to the currency basket ruble fell by 45 kopecks.
Today the value of the basket was 34.30 rubles, while two days before the central bank kept the ruble near the level of 33.85 rubles. But in the first minutes of trading today, the Bank of Russia has shifted its support level. Thus, the central bank ruble weakened for the eighth time in December and the eleventh time since 11 November, when the currency basket cost 30.4 rubles.
Oscillation will become even sharper when the balance of trade in Russia will go negative. Government sources have hinted that the central bank during the devaluation focuses on the trade balance. As soon as it becomes negative, the Central Bank let the ruble, as further retention of the course will not make sense.
"The central bank will devalue the ruble, to prevent the trade deficit", - agrees to the chief of analytical department of the Criminal Code "Capital" Sergei Karyhalin. Yet the rate remains positive, but significantly reduced. According to the Bank of Russia, where in August trade surplus was $ 18.5 billion, whereas in September the figure was equal to $ 16.4 billion in October dropped to $ 11.9 billion According to preliminary estimates, in the November trade surplus falling to $ 7.1 billion, caused a significant reduction in foreign trade is a global decline in demand and falling prices for the main subject of Russia's exports - oil, caused by the economic downturn. The government does not rule out that the balance can go into negative already in the first quarter of 2009. The forecasts of experts even more grim.
"I'm afraid that in December, the balance may become negative," - says Karyhalin.
On foreign exchange markets depends only thing on which the ruble will fall faster. While analysts find it difficult to provide here any unambiguous trend. "A pair of euro / dollar at the pre-holiday week is at a crossroads. Technically, there was a correction after rising euro from $ 1.2380 to $ 1.4715, after which the growth can continue. On the other hand, the euro has continued to be in a downtrend, "- says financial analyst FxPro Alexander Kuptsikevich. According to him, more likely scenario is a sharp and deep decline of the dollar. Most likely, this latest weakening of the ruble this year, because some swings before the end of the year are anticipated. "Before the holidays, business activity is minimal. And in the Forex market, the euro / dollar traded in a narrow range at 1.4019. I think that about 1.40 marks and will be bidding to the end of the year - says an expert group on trade in international currency markets infrared BrokerCreditService Vera Morgatsky. - What will happen after the holidays - hard to say, everything will depend on the balance of power in international markets, as well as the position of the new American government on its national currency. "

Lenta.ru
-------------------------------------------------- ----------------------------------------- View from the past
To prevent a strong ruble?
I look at the press of a meeting with Vladimir Putin, Kudrin and headache: what are they talking about? Just can not understand anything. It seems that many journalists, describing the meeting, did not understand.
"Too strong ruble, according to the president, could undermine the competitiveness of national economy", - writes the newspaper Kommersant.
How could undermine the national economy strong ruble? Strong, I am taking them used the expression, could cut earnings commodity monopolies supplying hydrocarbons to world markets, but does not undermine but rather strengthen the position of producers in other industries. Americans, in recent years doing everything to strengthen the dollar, knowing that the foundation of stable existence of American manufacturers. And we have, it turns out, quite the opposite.
At Putin's statement was inaudible, Kudrin has Bole confusing answers: "The main measures to prevent the building - is responsible Alexei Kudrin - a measure of the Government, but as soon as the government increases its spending by oil and gas revenues, it threatens to further strengthening. As part of the forecast, which we are now prepared, we will retain the programmed settings, strengthening ".
Kudrin would adhere to any single coordinate system, and not declare absolutely contrary to the allegations. The deputies and the people, he said that additional costs will cause inflation, and therefore they should be reduced and, in this case, the increase in costs due to oil and gas revenues, according to the minister, will strengthen the ruble. How will strengthen? After all, the costs will be made in rubles rather than dollars, and therefore will increase the mass of the ruble in relation to goods, the same dollar, which correspondingly lowers the real value of the ruble, not strengthened.
Journalists Vedomosti Petrachkova Alexander, Alexander Bekker, and assessed the situation: "Strengthening of the ruble could threaten the economy, particularly the real sector, President Vladimir Putin. Therefore, the Finance Ministry and Central Bank will have to simultaneously fight inflation and strengthen the course."
It seems that officials of the Ministry of Finance and the Central Bank, who had taken too eager to fight inflation, at the request of the president, stepped on the toes of giants raw, but so painful, that Vladimir Putin himself, undertook to support inflation.
"The President asked urgently to slow down the pace of strengthening the national currency", - gives "Time News", "Putin instructed brake the ruble," - wrote Larisa Kaftan in "Komsomolskaya Pravda".
The fact that the strengthening of the ruble, unprofitable commodity monopolies, and those concerned about the president, Vladimir Putin, and not hide it. The President reported that he met with representatives of large companies, "they still have a margin of safety", but the rapid strengthening of the ruble could create problems for them. Their products are becoming more expensive compared to imports and losing global competition. It is going to save the situation the government? "
And in the production, which products we compete, if 70% of our exports of raw materials?
"We must oppose the strengthening of the ruble by all available means" - Selflessly and with joy the minister said. And as he was not happy! After all this time, Kudrin said the only thing that did, in favor of big corporations, supplying the world markets, oil, gas, metals, wood, and so on. Well, now, it also received support from the president. So now wait for the new rise in prices, as Kudrin will deal with the strengthening of the ruble with renewed vigor.
There is no doubt that Putin is inclined to the side of the raw material monopolies. So the only way to describe the statements Bush made at a meeting with Finance Minister Kudrin. Six months ago the President set the goal to strengthen the ruble, reduced inflation, convertibility of the ruble, and now, under pressure from the owners of raw magnates, turns the entire policy in the opposite direction.
"As he found out after the" contacts with the business, "the policy of strengthening the ruble could harm Russia's economy .- newspaper Vedomosti. - And now, before the Central Bank and the Government, in effect, put the triple task: to prevent inflation, to contain the strengthening of the ruble and continued to increase government expenditures. With such input should expect an interesting political season. If you do not resign, then the serious failures are guaranteed: the task set by the President, not feasible.
The situation will remain a stalemate, if not eliminate one of the three objectives - subject to only two induction equation can be solved.
"To strengthen the ruble of Russia's authorities would be convenient to suppress inflation. But now, when the president ordered not to do so, before the Finance Ministry and Central Bank raises extraordinarily difficult task - and the ruble is not strengthened, and with increasing prices to fight. - Blankly asks "Izvestia". - So, the inflation front ".
Under pressure from the interests of commodity monopolies bent not only the president but also the government, which has developed a three-year plan to reduce the revenue from the sale of hydrocarbons. For three years the share of extraction tax (MET) and export duties in government revenues would decrease from 50% to 30%. "This, according to Kudrin, and there is a way of reducing dependence of the budget on oil prices. That's just the oil barons and their lobbyists the government, as apparently does not shy away from its dependence on oil revenues, rather pump the oil, and thank their benefactors.

Ivan Tevrizsky

23/08/2006

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Russia's devaluation brought the oil to 800 billion rubles

  The weakening of the ruble against the dollar and the euro has brought the oil to Russia in August 2008 about 800 billion rubles. About this newspaper "Vedomosti".

 According to Rosneft, which results in the publication, for oil exporters increase in the dollar at one ruble is equal to the growth of fuel prices by five dollars. According to the vice-president of Rosneft, Peter O'Braena, taking into account the devaluation and equalization of export duties the company is working "at a cost of about $ 70 per barrel."

 Recall devaluation of currency to the Central Bank in November 2008. At that time, the cost of currency basket (euro 0,45 and 0,55 dollars) amounted to little more than 30 rubles. However, in early 2009, its price has exceeded 40 rubles.

 February 12, Prime Minister Vladimir Putin of Russia during the second sitting of the Government, on the development of the oil industry, said that the tax burden on domestic oil industry has declined by 500 billion rubles. In part this was due to the reduction of export duties on oil, which from 1 January 2009 had fallen to 100,9 dollars. In the summer of last year's tax rate reached 495 dollars per tonne.
Source: Lenta.ru _______________________________________________________________________________

Journalists misled by a plausible excuse for the devaluation of the ruble, with genuine interest, and now wonder: why a devaluation did not produce the promised results.

  Devaluation is not a rainy day

  9.04.09 11:26 --

 Projections of the authorities that the fall of the national currency will increase the competitiveness of Russian goods, not true. A working mainly on imported raw materials from the devaluation of the domestic industry has lost only

Money and power simply asserted that they devalue and all of it will be after good. It turns out that they were not carried out, and there's nothing good from the devaluation of the ruble, and even the opposite ...

 Prosherstim all posts last time - is not any evidence that the devaluation has helped one way or another industry, a particular production. Incantation: "fall in the national currency improves the competitiveness of national products" - does not work. But there are examples of a very different impact of devaluation than the government promised us casters.

The first major well-known victim - "Izhavto. Purchasing a car sets for the assembly of the Korean KIA has become unprofitable. Five thousand workers laid off. Analysts expect it will be with TagAZ and plants OAO Sollers, who also worked on a similar basis.

Favorite of all the Russian authorities since the Politburo - AvtoVAZ, too, is suffering from the fall of the ruble. He and prior to the planned procurement for the "Kalina" automatic transmission up to 20% parts - imported, so that the plant can not raise prices on cars. Now he also receives state aid and increases prices.

Well, the automotive industry. But from all branches of the Groans, because all depend on whether the import of equipment, raw materials, whether.

That, apparently, where possible breakthrough domestic manufacturer since the fall of the ruble, if not in the production of cosmetics and perfumes? Upali income, for certain people turn their attention to domestic creams and oils ... But no. As a share of domestic companies in this market of more than $ 9 billion in 1 / 3, and remains. And well, that has not yet fallen. While. About 80% of the raw materials used by our factories - also imports. This means that they are forced to raise prices on products. While that foreign corporations have a much greater capacity to regulate their prices than ours. Because among the approximately 150 Russian producers dominated by small production, which up to higher commodity prices are staggering profits. And now, when the credit for the purchase of this raw material can not be obtained, are on the verge of bankruptcy ...

 

http://www.gazeta.ru/comments/2009/04/09_a_2971869.shtml
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The devaluation helped Russia's banks to earn 900 billion rubles

 Russia's banks due to the devaluation of the ruble could earn from November 2008 to January 2009 around 800-900 billion rubles.