rouble

The rouble area did not long outlive the Soviet Union; the monetary union of the Czech Republic and Slovakia lasted only a matter of weeks.

"Foreign banks stopped immediately, but Russian banks used affiliated parties to trade against the rouble, " he said.

Growth has stopped, the rouble has lost more than a third of its value since August and inflation is running at around 13% a year.

So long as reserves do not come under pressure as a result of rouble weakness, there would be scope for emergency spending.

With $550 billion of reserves, Russia ought to be able to stop a run on the rouble.

"Eighty per cent of Russian companies transferred their rouble accounts into dollars, " he said.

Russia is running a huge current-account surplus, it is paying off the last of its debt and the rouble has just been made fully convertible.

The first wave [of investment] was caught up in the Asian financial crisis, the devaluations in Latin America and the rouble crisis.

A sharp devaluation of the Belarusian rouble in May and a large current-account deficit have left the economy tottering.

If the euro is not to share the rouble's fate, its member nations will have to agree on a lot more than just the level of interest rates.

"They prefer not to pay rouble loans when they fall due. It is easier to pay 36 per cent fines than miss out on the dollar trade. "

He burned his rags and paid one rouble for a hot bath and a shave in a cheap hotel .

Through 1993, however, the rouble area imploded: new currencies came into play from Armenia to Azerbaijan and from Belarus to Georgia.

The death-agonies of the Soviet rouble were painful, but now the Russian currency is one of the most solid in the region.

It might seem unlikely but, then again, no one at the beginning of 1992 thought the rouble zone would fall apart.

The bank closely manages the value of the rouble against a basket of 55 per cent dollars and 45 per cent euros through such interventions.

With $550 billion of reserves, Russia ought tobe able to stop a run on the rouble.

The rouble has fallen roughly 33 per cent against the dollar since the end of the summer.

The Kremlin has also spent over $200 billion of its reserves to cushion the devaluation of the rouble and avoid public panic.

Russia's rouble fell to a new low yesterday, hitting the floor announced by the central bank last month.

Higher import prices, largely the product of a weaker rouble, pushed Russia's annual inflation rate to 14% in March.

The central bank has now indicated that it might tighten monetary policy, yet it still wants to defend the rouble.

China took a simpler path last month when it supported a Russian proposal to start direct trading using the renminbi and the rouble.

Thanks to the economy's reliance on exports of oil and gas, slumping energy prices immediately hit both earnings and the rouble.

Since last August Russia's central bank has spent over $200bn defending the rouble at a gradually depreciating rate.

the convertibility of the rouble was hailed as a triumph for Mr Putin.

Above all, Russian business is losing competitiveness as both costs and the rouble rise faster than productivity.

The Russians have also intervened to shore up the rouble.

The rouble's depreciation does cut Russia's current-account deficit, by making imports pricier.

It recently spent a third of its hard currency reserves because of a run on the rouble.

Prospects in Russia, a previous bright spot, have dimmed given the plummeting rouble.

Others, such as the rouble area, did not.

Short-term Rouble-denominated Russian Treasury bill.

In Russia, the rouble slid as the Kremlin forecast that the economy would contract by 2. 2% this year.

The rouble, a symbol of the Kremlin's power, is looking sickly.

With Urals blend still around $43, the rouble's value currently looks in the right ballpark.

So might the eurozone head the same way as the rouble zone?

They rounded the price down to the nearest rouble.

At first, they did this through the back door, creating so-called rouble "supplements" .

Beside the note from the thieves was a 500 rouble note.

Forward markets are pricing the rouble 18 per cent lower against the dollar in 12 months.

As imports grow, so does pressure on the rouble.

Now, and this is only the first step, trade in the rouble has started in China.

Average implicit cross-commercial rate of the rouble to the US dollar;

WAPA; weighted average of the official rate of the rouble to the US dollar;

rouble ( n. ) : the monetary of the former Soviet Union

Central bank tested as rouble hits floor

The rouble in the rubble