Ruble Hits 100 Against the Euro As Currency Collapse Accelerates

[Echo_419]

US and EU sanctions imposed on Moscow will bring an abrupt halt to exploration of Russia's huge Arctic and shale oil reserves and complicate financing of existing Russian projects from the Caspian Sea to Iraq and Ghana which has hurted Russian Federation and then Russian Federation placed ban on Western food item which was mainly to move towards Asian side which was in real policy of Russian federation to make EEA a reality. Now have to see how USA and EU countries will stop the whole block ? Russian Federation is even involving Chinese and Indians to their side. India is having a well balanced policy and its not going like Chinese. Chinese are working to bring down dollar and even Euro.

Chinese can afford to do this we on the other hand need the both West & East

 

[Hindustani78]

Chinese can afford to do this we on the other hand need the both West & East

We are more with the West because we got 123 agreement and we are modernizing Air force, Army and even Navy. Now the President Obama visit to India will be very crucial in the relations between United states and India.

 

[Echo_419]

We are more with the West because we got 123 agreement and we are modernizing Air force, Army and even Navy. Now the President Obama visit to India will be very crucial in the relations between United states and India.

At the same time we should not forget our old allies we need both the West & East

 

[Hindustani78]

At the same time we should not forget our old allies we need both the West & East

Who will give us more dignity and respect this should even matters. Indians are not any banking money that anyone can use them and throw them. We don't want to be created and treated like other nations. Those who don't give us respect we don't need them. Enough with playing with Indians.

 

[Superboy]

We are more with the West because we got 123 agreement and we are modernizing Air force, Army and even Navy. Now the President Obama visit to India will be very crucial in the relations between United states and India.

When is Obama coming to India? Hope he brings F-35 with him

 

[Hindustani78]

When is Obama coming to India? Hope he brings F-35 with him

President Obama will be chief guest at Republic Day parade of India. I think he would be the first United States President to be guest of honor.

 

[boomslang]

 

[Superboy]

It takes less than a minute to type 50,000,000,000 on a keyboard. No biggie . Gaining Crimea and the associated 2 million people was a good thing.

 

[AZADPAKISTAN2009]

Russia will gain 10 Trillion after it occupies Saudia and Iraq

 

[Hindustani78]

Russia will gain 10 Trillion after it occupies Saudia and Iraq

It will be full scale war and in that case Russian Federation will lost Arctic region. Chinese will not allow that because Chinese are even getting oil from GCC countries.

December 30, 2014
China to step up free trade talks with Middle East - Yahoo!7

 

[Hindustani78]

Energy-rich Turkmenistan devalues currency against dollar - Yahoo News
January 1, 2015

Ashgabat (Turkmenistan) (AFP) - The energy-rich former Soviet republic of Turkmenistan Thursday devalued its currency against the US dollar by 18 percent, in the latest sign of contagion among Russia's neighbours from the plunging ruble.

The highly secretive Central Asian country has vast oil and gas reserves while most of its five million people live in poverty.

On Thursday, the website of Turkmenistan's central bank published the rate of 3.50 manats to the US dollar, from 2.85 manats, a depreciation of 18.6 percent.

The devaluation came as the plunge in value of the Russian ruble, linked to Western sanctions over Ukraine and falling oil prices, sent shockwaves through former Soviet republics.

All Turkmenistan's currency exchange offices and banks were closed Thursday, officially due to the public holiday.

The official exchange rate set by the central bank for the manat had been set at 2.85 to the US dollar since 2009. Earlier in 2009, Turkmenistan had knocked zeroes off the manat in a redenomination after the official exchange rate reached 14,250 to the dollar.

Turkmenistan has been led by President Gurbanguly Berdymukhamedov since 2006, following the death of the eccentric dictator Saparmurat Niyazov, who erected a golden statue of himself that revolved to face the sun.

Earlier Thursday, Turkmenistan's oil and gas ministry announced petrol prices had risen by 60 percent. The rising price did not immediately lead to long queues at petrol pumps.

A litre of one type of petrol on Thursday cost one manat, while previously it cost 62 tenge (22 US cents under the previous exchange rate). No immediate explanation was given for the sudden price rise.

From 2007 until July last year, car drivers in Turkmenistan were issued with 120 litres per month of free petrol.

Turkmenistan claims to hold the world's fourth-biggest reserves of natural gas and also has vast oil deposits.

Turkmenistan's former Soviet neighbours in Central Asia have already suffered serious economic fallout from the plunge in value of the Russian ruble, which fell 41 percent against the dollar in 2014.

Kyrgyzstan saw its local currency, the som, fall more than 17 percent in value against the dollar in 2014, while Tajikistan's currency, the somon, lost nearly 14 percent against the dollar. Kazakhstan's central bank back in February devalued its currency, the tenge, by about 19 percent.

The crisis forced the central bank of another of Russia's ex-Soviet neighbours, Belarus, to introduce emergency measures and its authoritarian President Alexander Lukashenko sacked the prime minister on Saturday.

 

[Hindustani78]

Russian ruble continues to fall after oil prices sag : UNIAN news

With the Brent crude oil price dropping to $55.50 per barrel, the dollar and euro exchange rates jumped by more than RUB 3 to RUB 59.35 to the dollar and RUB 71.95 to the euro at the beginning of the first trading session in 2015.

The ruble exchange rate has since recovered slightly, RIA Novosti said.

By 1021 Moscow time, the dollar exchange rate was up by RUB 2, to RUB 58.02 the dollar, while the euro was up by RUB 1.35 rubles, to RUB 70 to the euro, according to Moscow stock exchange data.

 

[Superboy]

Russian ruble continues to fall after oil prices sag : UNIAN news

With the Brent crude oil price dropping to $55.50 per barrel, the dollar and euro exchange rates jumped by more than RUB 3 to RUB 59.35 to the dollar and RUB 71.95 to the euro at the beginning of the first trading session in 2015.

The ruble exchange rate has since recovered slightly, RIA Novosti said.

By 1021 Moscow time, the dollar exchange rate was up by RUB 2, to RUB 58.02 the dollar, while the euro was up by RUB 1.35 rubles, to RUB 70 to the euro, according to Moscow stock exchange data.

It's better for oil price to fall and for $ to ruble to rise. Lower oil prices means higher CO2 emission and higher $ to ruble means more rubles.