... and the BRICS Nations For Russia and the BRICS countries, the idea of an alternative currency opens up opportunities for greater financial independence. Introducing a domestic currency or utilizing national currencies for transactions would allow them to avoid the impact of sanctions and reduce dependence on Western financial institutions. Russia and China are already actively promoting transactions in rubles and yuan, reducing the dollar's share in their mutual transactions. Commentary by Sergey Tereshkin, Founder of Open Oil Market Sergey Tereshkin, Founder of Open Oil Market : “Vladimir Putin’s statements regarding the dollar and the BRICS currency highlight how critical ...

... market participants are pricing in the possibility of further depreciation. Emerging market currencies had a less fortunate week. Amid dollar strengthening and declining interest rates within certain countries, some EM currencies depreciated. The Russian ruble faced moderate pressure following the Central Bank of Russia's decision to cut rates. The official dollar exchange rate set by the Bank of Russia for the weekend rose to approximately 79.5 ₽ (up from ~78.9 ₽ the previous week). The decline in yields on ruble-denominated assets made them less attractive; additionally, importers are ramping up their ...

... have increased multiple times. How has the cost of living in Russia changed over more than two decades, what factors have influenced inflation, and what can we expect in the future? Key Inflation Indicators Since 2001 Average annual inflation: 9.1%. Dollar exchange rate: increased 3.4 times (from 29 rubles to 98 rubles). Housing prices: increased 16 times. Tobacco products: price of a pack of cigarettes increased 27 times. Food products: significant price increase for basic food items. How Have Prices for Food and Essential Goods Changed? Product Price ...

... take profit in yen; the Japanese currency hit its lowest values since 2022. In the emerging markets segment, currency trends remain under pressure from global factors. The Russian ruble weakened slightly over the week: the official exchange rate of the dollar set by the Central Bank of Russia for the weekend rose to ~79.55 ₽ (from ~78.86 ₽ the previous week). Pressure on the ruble intensified after the CBR lowered the key rate, as well as due to importers' demand for foreign currency against the backdrop of a recovery in imports. Other CIS currencies also showed decreased dynamics: for instance, the Kazakh tenge is holding ...

... for Russian goods. Negative figures could weaken the euro and decrease Russia's export revenues. 4. U.S. Nonfarm Payrolls Report for November (16:30 MSK) This report influences the dollar and global financial markets. Strong data can strengthen the dollar, leading to a weaker ruble and higher import prices. Weak data may weaken the dollar, strengthening the rub Recommendations for Traders and Investors: Monitor macroeconomic indicators from Germany and the Eurozone, as they affect demand for Russian goods and the ruble's ...