Rubel gets a new impetus: strongest climb for over a year!

Rubel gets a new impetus: strongest climb for over a year!

In the current Situation of the Russian economy, a worrying picture is shown. Sberbank boss Herman Gref warns of signs of stagflation, especially in the construction sector. According to Gref, the trust of the population in the state, banks and the ruble has dropped sharply. Many Russians prefer to store their money in foreign currencies such as dollars under the mattress or in the savings stocking. But a rethink has started: with the constant loss of value that Gref illustrates in an example - of $ 100 in 2022 there are only $ 80 - more and more prefer to deposit their savings in the bank. Sberbank reports of a historical low of the cash share in the savings, which is due to the increased interest rates for ruble deposits, as krone.at reports.

At the same time there is a recovery of the ruble. On Friday, December 6th, the ruble became more worth more than a US center, with only $ 99.50 rubles necessary. This comeback, which means an increase of around 6 percent this week, has been the strongest in over a year. The influence of President Vladimir Putin's measures is essential. He decided that buyers of Russian gas can no longer exchange their foreign exchange at Gazprombank, which is occupied by US sanctions, for the ruble. This decision led to a short-term strengthening of the ruble by more than one percent compared to the dollar and the Chinese Yuan, as reported.