Will devaluation of ruble affect Armenia’s economy? (video)

The Russian ruble has plunged in its steadiest decline in recent weeks. Will the devaluation of the ruble affect Armenia’s economy?

“The decline of the Russian ruble is due to the fluctuations in the international markets,” says economist Tatul Manaseryan.

The depreciation is first of all conditioned by the prices of raw materials, including oil and gas prices. However, it is not only limited to economic factors; the decline is also determined by global developments.

The circulation between Russia and Armenia is considerably great. According to the Central Bank, from 24 to 28 February banks purchased 677,709,846 rubles at an average price of AMD 11.44/ Rubl 1 and sold 120,637,781 rubles at an average price of AMD 11.60/ Rubl 1.