The ruble has fallen 6 percent since New Year and on Friday afternoon you had to pay 47,66 rubles for one euro. For one Norwegian krone, the exchange rate at the banks in Murmansk was 5,70 rubles by closing hours.
The fall comes despite the Russian Central Bank has pouring more than $1 billion per day over the last week, the ruble fell 3 percent since last Friday, reports Kommersant.
The newspaper writes that international investors are concerned about reduction of monetary stimulus programs for the U.S. economy and therefor withdraws investment from emerging markets like Russia. Other emerging markets’ currencies, like Turkey, Brazil and South Africa have all seen a slide this January.
A negative impact is also seen on Moscow’s stock market the last few days.
The Moscow Times reports about a surge in customers clamoring for hard currency. The 1998 financial crisis is still remembered by many Russians.
On Wednesday, Russia’s Economic Development Minister Alexei Ulyukayev warned the Cabinet that if the ruble continues to weaken it will result in more expensive imports and could boost inflation.
The Murmansk Economic Zone was presented as a miracle cure for regional development and as key facility for the Shtokman project. Today, five years on, regional authorities put their faith in the fish industry.
Renowned Norwegian actress Gørild Mauseth is in the leading role when actors and producers from the Gorky Dramatic Theatre in Vladivostok come to Harstad to present a unique version of Tolsoy’s classic play Anna Karenina.
Nuclear safety projects in the Murmansk region wouldn’t be the same without her contribution. Finnish European Parliament Member Heidi Hautala is today one of 89 Europeans barred from Russia in response to EU sanctions over Crimea and Ukraine.
Since June 2015, distribution of many everyday goods, such as toothpaste and cleaning products, is a complicated case in Russia. New federal regulations on alcohol consumption state that products containing over 0.5 percent alcohol are subject to licensing.
Wistleblower Edward Snowden is winner of this year’s recognized Bjørnson Award, but Norwegian authorities are unlikely to guarantee his safe travel to the award ceremony. The former CIA employee should instead be handed over the award in Pechenga, the Russian borderlands to Norway, a Norwegian university lecturer suggests.