The Russian Rouble’s International Value (Essay Sample)

THE RUSSIAN ROUBLE’S INTERNATIONAL VALUE
Introduction
The Russian Rouble is the official currency of the Russian Federation. The Rouble is subdivided into 100 kopeks. The Ruble was the currency of the Russian Empire and the Soviet Union (the Soviet Ruble). Today apart from Russia, the Rouble is used in Abkhazia, South Ossetia, and Transnistria. All three have close economic ties with Russia. The Rouble is the world's first decimal currency, decimalized in 1704 when the Ruble became legally equal to 100 kopeks. The Ruble was the world's first decimal currency: it was decimalized in 1704 when the Ruble became legally equal to 100 kopeks. Consequently, the war in Russia has not significantly impacted the Russian Rouble's international value. However, it is worth noting that the Rouble's value has been volatile in recent years due to several factors, including sanctions imposed by the West, low oil prices, and a weak domestic economy.
At the start of the war in 2014, one US dollar was worth around 34 roubles. Today, one US dollar is worth approximately 63 roubles. While the war has not had a significant impact on the Russian Rouble's international value, it is worth noting that the value of the Rouble has been volatile in recent years due to several factors, including sanctions imposed by the West, low oil prices, and a weak domestic economy. Besides, the Russian Rouble is not a freely convertible currency, and the Central Bank of Russia determines its exchange rate. The Central Bank of Russia intervenes in the foreign exchange market to smooth out volatility and maintain stability. As a result, Ruble's exchange rate is relatively stable compared to other currencies. In addition, the war in Russia has not significantly impacted the Russian Rouble's international value. However, it is worth noting that the Rouble's value has been volatile in recent years due to several factors, including sanctions imposed by the West, low oil prices, and a weak domestic economy.
The Russian Rouble’s International Value
According to Serna and Blinova (2022, p379), the Russian Rouble's international value has been impacted by the war in Russian Rouble's exchange rates. The war has increased the Russian Rouble's global significance. This increase in the Russian Rouble's international value can be attributed to the war's increased demand for Russian goods and services. Demand for Russian goods and services has increased the Russian Rouble's exchange rate. The war has also increased the Russian Rouble's international value since the war has increased the price of oil. The oil price increase has increased the Russian Rouble's exchange rate. The researcher highlights that the war has positively impacted the Russian Rouble's international value.