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Is there a Need in Russia for Free Ruble? (The Impact OF Floating Exchange Rate Regime ON Ruble Volatility)

Author

Listed:
  • Petronevich, Maxim

    (NRU HSE)

Abstract

The liberalization of the ruble will make it cyclical to the oil prices, and its volatility likely to exceed the level of any major currencies. This will result in the lesser volatility of cash flow for oil sector, but increased volatility for others. Stronger ruble will weaken demand for domestic goods in case of rising oil prices, and hedging costs are likely to be much higher than in developed countries due to higher exchange rate volatility. These consequences stipulate for government-level currency hedging carried by Bank of Russia.

Suggested Citation

  • Petronevich, Maxim, 2010. "Is there a Need in Russia for Free Ruble? (The Impact OF Floating Exchange Rate Regime ON Ruble Volatility)," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 82-91.
    • Handle: RePEc:rnp:ecopol:1048
    as

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