The Wild Ride of the Ruble
AbstractThe ride of the ruble has been nothing if not exciting. After a near meltdown of the ruble on Black Tuesday (Octorber 11, 1994) and further tremors in early 1995, the ruble has staged a remarkable comeback. It appreciated by some 7 percent in nominal terms and by more than 25 percent in real terms from April through June 1995 despite substantial central bank dollar purchases. Partly as response to the ruble recovery, a exchange rate band spanning teh range from 4300 to 4900 rubles per dollar was introduced on July 5th, with the spot rate at 4565.
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Bibliographic InfoPaper provided by New York University, Leonard N. Stern School of Business, Department of Economics in its series Working Papers with number 96-01.
Length: 20 pages
Date of creation: 1996
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Postal: New York University, Leonard N. Stern School of Business, Department of Economics, 44 West 4th Street, New York, NY 10012-1126
Phone: (212) 998-0860
Fax: (212) 995-4218
Web page: http://w4.stern.nyu.edu/economics/
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FINANCIAL MARKET; EXCHANGE RATE;
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- De Melo, Martha & Denizer, Cevdet, 1997. "Monetary policy during transition : an overview," Policy Research Working Paper Series 1706, The World Bank.
- Varshavsky Alexander, 1999. "Macroeconomic Aggregate Model for Analysis of Inflation and Stabilization of the Russian Economy," EERC Working Paper Series 97-109e, EERC Research Network, Russia and CIS.
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