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DrDebug
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Sun Jan-20-08 12:01 PM Response to Reply #2 |
| 3. The ruble is currently doing significantly better than the US dollar |
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Edited on Sun Jan-20-08 12:02 PM by DrDebug
The ruble was pegged to the dollar until the beginning of 2005 when it became a floating currency because it was doing a lot better. ( http://www.vu.union.edu/~coulombj/Articles/ECONOMY/Russia%20ends%20de%20facto%20dollar%20peg%20and%20moves%20to%20align%20rouble%20with%20euro/index.html )
 http://www.exchangerate.com/cgi-images/chart_image.cgi?hmd=31104000&cu=239&country=192 The real irony is that Belarus wanted a monetary union with Russia, however Belarus is the last real communist country and their ruble could not be pegged first. The Belarus ruble is pegged to the dollar though and has a very stable exchange rate, so George W. Bush's free trade economy performs on the same level as pre-Gorbachev communism... :sarcasm: |
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