| In the section | Surveys |
| Title of the article | About Some Problems in Currency Exchange Sphere |
| Pages | 152-164 |
| Author 1 | Mikhail Vladimirovich Ershov Doctor of Economics, Director of Center for Monetary Policy and Financial Markets Financial University under the Government of the Russian Federation 49 Leningradskiy Avenue, Moscow, Russia, 125993 (GSP-3) This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-5811-9560 |
| Author 2 | Anna Stanislavovna Tanasova Candidate of Economics, Deputy Head of Department of Center for Monetary Policy and Financial Markets Financial University under the Government of the Russian Federation 49 Leningradskiy Avenue, Moscow, Russia, 125993 (GSP-3) This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-9796-5762 |
| Author 3 | Victor Yuryevich Tatuzov Candidate of Economics, Doctor of Economics (PhD) of Sorbonne, Leading Researcher of Center for Monetary Policy and Financial Markets Financial University under the Government of the Russian Federation 49 Leningradskiy Avenue, Moscow, Russia, 125993 (GSP-3) This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-7341-1340 |
| Author 4 | Mels Pavlovich Tskhovrebov Candidate of Economics, Associate Scientist of Center for Monetary Policy and Financial Markets Financial University under the Government of the Russian Federation 49 Leningradskiy Avenue, Moscow, Russia, 125993 (GSP-3) This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0002-8775-4299 |
| Abstract | The new trend of global economic growth for now appears unstable. A certain threat to stability is represented by continuous growth of the world financial markets without significant correction, which leads to overheating of certain indicators. Besides, the growth of interest rates in the developed markets threatens the stability of currency in countries with developing markets, especially where floating exchange rate has been introduced. The risky situation is not helped by the tensions in geopolitics. External shocks will inevitably transfer on the internal economics of Russia due to free floating of the ruble. Currency is a significant channel of such transfer: any deterioration of situation in Russia would contribute to volatility of currency market and depreciation of ruble. The article analyzes the specifics of currency sphere in Russia today, studies negative and positive sides to ruble depreciation. The quality improvement and formation of comparative conditions in the currency market of Russia is necessary for stability and increasing rates of economy growth. Most branches of Russian economy benefit from stable ruble exchange rate. Adding to that, the expansion of economic sanctions announced by the USA to come into effect at the end of summer 2018 can contribute to volatility and further depreciation of the ruble. The Bank of Russia should take active measures towards ruble stability, prevention of depreciation and minimization of negative consequences for Russian economy. The article suggests several such measures to provide stability and prevent the growth of currency speculation: low currency position, lower leverage, Tobin tax, etc. |
| Code | 339.7+336.7 |
| JEL | G15, N20, F33 |
| DOI | 10.14530/se.2018.3.152-164 |
| Keywords | exchange rate ♦ PPP ♦ financial markets ♦ exchange rate volatility ♦ depreciation of currency |
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| For citation | Ershov M.V., Tanasova A.S., Tatuzov V.Yu., Tskhovrebov M.P. About Some Problems in Currency Exchange Sphere. Prostranstvennaya Ekonomika = Spatial Economics, 2018, no. 3, pp. 152-164. DOI: 10.14530/se.2018.3.152-164. (In Russian). |
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| Financing | The article is prepared on the basis of the results of studies performed at the expense of budget funds for the state task to the Financial University under the Government of the Russian Federation |