Inflation and the Foreign Exchange Market

Russian Economic Developments, Moscow, No. 4, pp. 2-6, 2016

5 Pages Posted: 13 May 2016

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: May 12, 2016

Abstract

Over the period March 2015 – February 2016, the growth rate of prices declined to 8.1%, while the corresponding index for February 2015 – January 2016 amounted to 9.8%. As demonstrated by the results of a survey published by the Bank of Russia, in February the median inflation expectation index for the next year also declined by 1.0 p.p. to 15.7%. As shown by the year-end results for 2014–2015, the plunge of the nominal effective exchange rate of Russia’s national currency was much more dramatic than the downward movement of the national currencies of the other countries – exporters of raw materials, although their terms of trade were also deteriorating at a comparable rate.

Keywords: Russian Economy, Inflation, Foreign Exchange Market

JEL Classification: P24, E52

Suggested Citation

Bozhechkova, Alexandra and Trunin, Pavel, Inflation and the Foreign Exchange Market (May 12, 2016). Russian Economic Developments, Moscow, No. 4, pp. 2-6, 2016, Available at SSRN: https://ssrn.com/abstract=2779296 or http://dx.doi.org/10.2139/ssrn.2779296

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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