Russian Ruble to be
Dr. Bill Belew
Issue II - June 18, 2006
Introduction by Mr. Stolyarov:
Central governmental controls over currency exchange rates are
not only peculiar to China, writes Dr. Bill Belew. They exist in Russia
as well, and the Russian government does not yet wish for the market to
determine the ruble's exchange rates. In both countries, unfortunate
governmental edicts are imposed to overrule the wishes of individuals.
It seems like no one wants to leave the Chinese alone when it comes
to revaluing the yuan.
Here is some news that I am sure the Chinese would like to see spread
all over the pages.
The Russians say their economy is not ready to introduce the idea of
a 'floating ruble' yet because it involves:
1. Economic risks
2. Reevaluation (sounds like revaluation) of the state's
participation in the economy.
Russia's Federal Financial Markets Service Head, Oleg Vyugin, said,
"we're not ready."
"People think the ruble rate is undervalued," he said. That statement
could be put in any economic commentary about the Chinese yuan as well.
"No one knows the 'fair' market rate as only the market can determine
that when the Central Bank did not interfere with trade," he said.
Yep, sounds like we are talking about China again.
Question: When should the market be allowed to determine what is
When should a government, Russia, China, or otherwise, stop
What do you think?
Dr. Bill Belew is a former Intelligence
Officer for a Destroyer Squadron. He lived 20 years in Japan, where he
started a language school for Japanese
Dr. Belew teaches classes for a vocational school and online for a
See Dr. Belew's blog,
for news and discussions about business and current events in Russia and
for Dr. Belew's reports on business in China,
on business in Japan, and
TheBizofKnowledge on business education.
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