The Exchange Rate of the Ruble is Close to the Equilibrium Point

Abstract

The balance of payments for 2015 shows an increasing surplus in the current account balance, which has resulted from the shrinking deficit in the balance of services, the investment income balance and wages, coupled with the decreasing surplus in the trade balance. The accelerated weakening of the ruble in real terms against the national currencies of the developing countries during some prolonged periods of time in 2014–2015 was triggered by the mounting geopolitical risks and the plummeting oil prices.