Episode 63 • • 50:27 - 53:12
63: Save This Polar Bear
Russian Ruble Devaluation, Oil Revenue, Currency Pegs
Russia has devalued the ruble by approximately 3% in response to falling oil revenues. Dvorak explains the mechanics of currency devaluation and how it relates to oil deals typically conducted in U.S. dollars. The move is intended to maintain domestic revenue levels despite the drop in global commodity prices.