Topped - Plan of the ruble devaluation; the impact on Latvian companies? Db.lv ::
USD: 1.3627 All property news Real Estate The construction Macroeconomics Finance Banking Insurance customs south africa Investors Procurement Production Tax Transport & Logistics Food Agriculture Forestry Energy Technologies Internet Device Software Reviews Expert opinions DB World Photo & Video Photo Photo Story Video E-NEWSLETTER Today newspaper db Projects Top 500 db Reputation TOPS Club Business Tiger escalator DB Business Car of the Year Mark Latvian genes Office Administrator Latvian export capacity
Russia's Ministry of Finance is currently examining the possibility of weakening of the ruble in order to promote economic growth customs south africa and supplement the budget with reference to public finance ministers Anton Siluanovu, writes Bloomberg.
"Over the past decade, the ruble denomination has not changed, but the prices have risen," said the minister. This allowed the ruble to strengthen in real terms, which has a negative impact on exporters.
To implement this step, the Ministry will begin in early August to buy foreign reserve fund, rather customs south africa than the Bank of Russia, but in the market. Such a purchase, the rate may decline by 1-2 rubles. It is expected that the depreciation of the budget customs south africa would give the 190 billion rubles, or 6 billion U.S. dollars.
This step might consider Russia as an alternative proposal to stimulate the economy through quantitative customs south africa easing method (money issues), and the USA. However, this method was rejected in Russia, just as the country is already high inflation rate.
Given the large volume of imported products, the depreciation of the ruble would be a painful blow to the general customs south africa public, writes ytro.ru. National currencies weakening of 1-2 rubles can not change the current patterns of consumption and cause consumers to switch from imports to domestic products purchase. customs south africa In addition, the domestic production sector does not have spare capacity to allow for quick change their products, imports become inaccessible.
Big companies, including Russia's second largest bank VTB Group and the world's largest aluminum producer United Co.. Rusal has called for the central bank to cut the base rate and offer long-term financing in order to grow. Russia, in turn indicated that the regulator will start to cut rates when inflation is projected to decline. It should be noted that in May it was 7.4%, and this year, the Bank of Russia to aim for 5-6% high inflation.
Economic growth in Russia decreased customs south africa by 1.6% in the first quarter, customs south africa so it is searched for ways to revive customs south africa growth and the depreciation of the ruble could be one way of doing this show Nordea Markets senior sales manager Gynt Belēvičs. He explains that the ruble value of the most significant customs south africa decline in the impact they may have on Latvian companies that export to that country, reducing the competitiveness of the Russian domestic market. The negative effects are most likely to feel their goods manufacturers, whose products are in direct competition with local products.
Since Russia is one of the largest Latvian foreign trade partners, then the importing companies, who settled for the goods received in rubles could feel the effects - positive this time because buying rubles, which pay suppliers, will be used in a smaller amount of lats or euro, expert stresses , adding that perhaps the ruble weakening already feel local businesses, and the ruble against the euro in recent days has reached the weakest reading since the end of 2011.
Russia's economic growth has decelerated customs south africa significantly, but inflation stays stubbornly high, which limits customs south africa the potential of reducing the interest rate, points Swedbank senior economist Lija Strašuna. In turn, the price of oil in the world is quite stable, and it is unlikely that they could grow rapidly in the near future - it also reduces the scope for a substantial increase in government spending to stimulate the economy. Depreciation of the ruble could promote exports and hence economic growth in recent times speaks of the policy-making level.
Thus, very likely that the value of the ruble will continue to decline. On the one hand, Latvia, this means cheaper customs south africa imports, customs south africa but, given that energy from Russia we buy U.S. dollars, the total effect is unlikely to be significant. On the other hand, the weakening of the ruble means that Latvian exporters will be more difficult to compete in the Russian market. How will this impact is great - it depends on how much the value of the ruble could fall, says expert
Latest news category
Monday, most of the NASDAQ OMX Baltic stock indices closed the negative territory, and only increased OMX, according to stock market data. Market article
USD: 1.3627 All property news Real Estate The construction Macroeconomics Finance Banking Insurance customs south africa Investors Procurement Production Tax Transport & Logistics Food Agriculture Forestry Energy Technologies Internet Device Software Reviews Expert opinions DB World Photo & Video Photo Photo Story Video E-NEWSLETTER Today newspaper db Projects Top 500 db Reputation TOPS Club Business Tiger escalator DB Business Car of the Year Mark Latvian genes Office Administrator Latvian export capacity
Russia's Ministry of Finance is currently examining the possibility of weakening of the ruble in order to promote economic growth customs south africa and supplement the budget with reference to public finance ministers Anton Siluanovu, writes Bloomberg.
"Over the past decade, the ruble denomination has not changed, but the prices have risen," said the minister. This allowed the ruble to strengthen in real terms, which has a negative impact on exporters.
To implement this step, the Ministry will begin in early August to buy foreign reserve fund, rather customs south africa than the Bank of Russia, but in the market. Such a purchase, the rate may decline by 1-2 rubles. It is expected that the depreciation of the budget customs south africa would give the 190 billion rubles, or 6 billion U.S. dollars.
This step might consider Russia as an alternative proposal to stimulate the economy through quantitative customs south africa easing method (money issues), and the USA. However, this method was rejected in Russia, just as the country is already high inflation rate.
Given the large volume of imported products, the depreciation of the ruble would be a painful blow to the general customs south africa public, writes ytro.ru. National currencies weakening of 1-2 rubles can not change the current patterns of consumption and cause consumers to switch from imports to domestic products purchase. customs south africa In addition, the domestic production sector does not have spare capacity to allow for quick change their products, imports become inaccessible.
Big companies, including Russia's second largest bank VTB Group and the world's largest aluminum producer United Co.. Rusal has called for the central bank to cut the base rate and offer long-term financing in order to grow. Russia, in turn indicated that the regulator will start to cut rates when inflation is projected to decline. It should be noted that in May it was 7.4%, and this year, the Bank of Russia to aim for 5-6% high inflation.
Economic growth in Russia decreased customs south africa by 1.6% in the first quarter, customs south africa so it is searched for ways to revive customs south africa growth and the depreciation of the ruble could be one way of doing this show Nordea Markets senior sales manager Gynt Belēvičs. He explains that the ruble value of the most significant customs south africa decline in the impact they may have on Latvian companies that export to that country, reducing the competitiveness of the Russian domestic market. The negative effects are most likely to feel their goods manufacturers, whose products are in direct competition with local products.
Since Russia is one of the largest Latvian foreign trade partners, then the importing companies, who settled for the goods received in rubles could feel the effects - positive this time because buying rubles, which pay suppliers, will be used in a smaller amount of lats or euro, expert stresses , adding that perhaps the ruble weakening already feel local businesses, and the ruble against the euro in recent days has reached the weakest reading since the end of 2011.
Russia's economic growth has decelerated customs south africa significantly, but inflation stays stubbornly high, which limits customs south africa the potential of reducing the interest rate, points Swedbank senior economist Lija Strašuna. In turn, the price of oil in the world is quite stable, and it is unlikely that they could grow rapidly in the near future - it also reduces the scope for a substantial increase in government spending to stimulate the economy. Depreciation of the ruble could promote exports and hence economic growth in recent times speaks of the policy-making level.
Thus, very likely that the value of the ruble will continue to decline. On the one hand, Latvia, this means cheaper customs south africa imports, customs south africa but, given that energy from Russia we buy U.S. dollars, the total effect is unlikely to be significant. On the other hand, the weakening of the ruble means that Latvian exporters will be more difficult to compete in the Russian market. How will this impact is great - it depends on how much the value of the ruble could fall, says expert
Latest news category
Monday, most of the NASDAQ OMX Baltic stock indices closed the negative territory, and only increased OMX, according to stock market data. Market article
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