Subject. We consider the main trends and factors of changes in the Ruble exchange rate. Objectives. The purpose of the study is to identify the consequences and effectiveness of measures taken to stabilize the Ruble exchange rate during the economic crisis, and reveal factors of Ruble appreciation. Methods. The study rests on methods of systems analysis and synthesis, estimation techniques, the content analysis of literature and analytical data on the topic, statistical data analysis, graphical and regulatory methods. Results. We considered the specifics of the exchange rate in Russia, its advantages and benefits for the economy. The paper considers the behavior of the Ruble to Dollar and Ruble to Euro exchange rates over the past ten years, and identifies the factors of changes. We analyze the dynamics of currency interventions by the Central Bank of Russia as a tool to support the Ruble exchange rate. We also review important factors of exchange rate formation in Russia, which can contribute to the strengthening of the Ruble exchange rate. Conclusions. To stabilize the Ruble exchange rate, it is important to determine the main factors of exchange rate formation and the mechanism of their influence. In particular, we highlight such factors as the development of the country's export potential, attraction of investors to the purchase of Federal bonded loans, control over capital outflow abroad, liberalization of currency control, and greater public confidence in the national currency.
Keywords: exchange rate, economic crisis, currency intervention, Bank of Russia
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