Russia is preparing for the rate of 100 rubles per dollar

The Central Bank of Russia is preparing financial institutions in the country for a further fall of the ruble by one and a half to two times.

This was reported by Reuters information agency, citing the deputy chairman of the bank "Vozrozhdenie" Andrei Shalimov.

It is quite possible that the exchange rate will be 100–120 rubles per dollar—these figures were given by the RBC agency, citing the anonymous chairman of the board of a large bank. Allegedly, the Central Bank (CB) is now preparing for a situation where they will have to pay more than a hundred rubles for a dollar, and are thinking through steps to stabilize the situation.

The Central Bank itself refuted this information.

The ruble went to a peak amid falling global oil prices. 24 August exchange rate has passed 70 rubles for a dollar. At the same time, the price of Brent crude fell below the 44 dollars per barrel and updated the 16-year low on the Bloomberg Commodity Index.

And although on Tuesday the ruble won back the positions lost on the eve: in 20: 00 Moscow time, the dollar on the Moscow stock exchange was already worth 68,83 rubles, experts and market participants are pessimistic. They predict that the Russian national currency will continue to fall.

Correct the situation could help foreign loans. However, Western sanctions deprived Russian companies of such an opportunity.

The Central Bank on August 26 priced the dollar at 69,95 rubles. Just a year ago, the dollar was worth 36 rubles.

According to Rosstat, in the first half of 2015, food products in Russia went up by 10,6 percent. Inflation in Russia in the first half of the year 2014 amounted to 9,4 percent.

Default 1998

Russia has already experienced a sharp collapse of the ruble in the summer of 1998. 17 August was declared a technical default. The 1998 crisis of the year was the main economic shock of Boris Yeltsin’s second term. The devaluation provoked huge queues in exchange offices, a prolonged rise in prices and led to a loss of ruble savings. Russia has repeatedly encountered the fall of the ruble since then, and each time the depreciation was compared with the 1998 crisis of the year.