The Dollar Going Down! THUMP!Hello,
I have been communicating about this the last month. Well, The dollar has hit the eight year low against the Ruble. I hope that Russia can keep the slide at a controlled pace. If Russia can not then inflation could go sky high.
The dollar will continue to decline for 5 years until the Ruble and the Dollar are 1 to 1. Just like Canada and the USA are now.
That is my prediction, or as they say, My Two Rubles Worth.
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"During today’s special dollar trading session for tomorrow deals, the lowest deals were made at 25.34 RUR/USD. The last time such an unfavorable exchange rate for the US currency was registered occurred in the early fall of 1999, almost eight years ago.
On January 10, 2003, one US dollar officially bought the largest amount of rubles in Russia's history, i.e. RUR31.88. In other words, the US currency gained 26 percent against the Russian ruble in over a little less than three years.
However, since the beginning of January 2003 and up until today, a period of almost four and a half years, the exact opposite development has occurred. The ruble has strengthened against the US dollar by 26 percent, or almost by a third. Since the beginning of 2007, little more than a half year, the US currency has lost RUR1.27, or 5 percent.
At the same time, during the first seven months of 2006, the real effective ruble rate had strengthened by 3.9 percent,according to information released by the Central Bank of Russia. Only in July 2007 did the ruble manage to add as much as 0.6 percent. Since the beginning of 2007, the ruble's strengthening against the US dollar reached 6.1 percent, and against the Euro – 4.3 percent. The nominal ruble rate against foreign currencies dropped by 0.3 percent.
Meanwhile, the Central Bank’s head, Sergei Ignatyev, has made several statements that the bank’s forecast regarding the real effective ruble's strengthening would be no more than 4-5 percent by the end of 2007. It is worth mentioning that in 2006, it strengthened by 7.6 percent."(RBC)
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Kyle
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