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Why did the ruble Drop?
Transcript of Why did the ruble Drop?
table of content
Why Did The Ruble Drop?
the falling oil prize
Prices to rise for Russia's Lada on rouble weakness
by Gleb Stolyarov
Russia needs to import a lot -> so they had to pay more
So people liked to buy dollars instead of Ruble
10% inflation rate
food got more expensive
The Falling Oil Prize
110$ -> 60$ per Barrel
russias economy is based on oil and gas (70%)
noone wants to cut prizes
imposed by Europe and U. S.
punishing Putin for his actions against Ukraine
Russian firms couldn't borrow on Western markets
The Worst crisis since 1998
Why did the ruble drop?
Prices has to rise because of Rouble weekness
About the Article
by Elena Fabrichnaya and Alexander Winning
December 25th 2014
the prize for a car manufactured by Lada will increase by 9%
prize for imported cars rose by more than 40%
in addition the currency has fallen by 11%
81% of their parts they buy localy --> hoped to not rise the prize
They hoped the economy would recover quicklier
No more price increase
Lada Granta - 300.000 Roubles (4.595$)
Sales dropped by 16% in 2014
11.6 % for the car market