Russians unfazed as rouble hits historic lows
- 10 years ago
Russian assets and the rouble hit new lows Monday amid concerns about a new round of U.S. sanctions, weak oil prices and one sided bets that the currency would extend its slide.
Traders say the the rouble is down around 45 percent against the dollar this year, forcing the central bank to intervene in the market on an ongoing basis.
But in Moscow residents are taking it in stride.
(SOUNDBITE) (Russian) MOSCOW RESIDENT, WISHED TO REMAIN ANONYMOUS, SAYING:
"Why it is falling? I am no analyst, but I know it will not impact us. It is not the first time for us, so we are not afraid."
(SOUNDBITE) (Russian) MOSCOW RESIDENT GENNADY, SAYING:
"Generally, it does not impact me at all. The rouble will soon rise again, because the sanctions will not help anybody. That's why everything will be good in the end."
Russia's central bank has spent close to 80 billion dollars propping up the rouble this year, including more than 5 billion dollars this month.
Traders say the the rouble is down around 45 percent against the dollar this year, forcing the central bank to intervene in the market on an ongoing basis.
But in Moscow residents are taking it in stride.
(SOUNDBITE) (Russian) MOSCOW RESIDENT, WISHED TO REMAIN ANONYMOUS, SAYING:
"Why it is falling? I am no analyst, but I know it will not impact us. It is not the first time for us, so we are not afraid."
(SOUNDBITE) (Russian) MOSCOW RESIDENT GENNADY, SAYING:
"Generally, it does not impact me at all. The rouble will soon rise again, because the sanctions will not help anybody. That's why everything will be good in the end."
Russia's central bank has spent close to 80 billion dollars propping up the rouble this year, including more than 5 billion dollars this month.