‘After the outbreak of the Ossetian-Georgian conflict and the opening of the Olympics the ruble turned into devaluated currency in comparison with the other ones, especially the U.S. dollar. This has to do with Russia’s increasingly strained relations with the rest of the world,’ Eurogreen Investment Company’s General Director Evgeniy Kostarev said to UrBC.

According to Tomorrow’s calculations, the ruble/dollar exchange rate came to 25.13 RUR per 1 dollar on September 4, 2008. This exceeds the official figures for the day by.26 RUR. In the meantime, the dollar rate against the ruble has been going up for the fifth day in a row.

‘I believe it was the Central Bank’s exchange market intervention that was behind the latest dramatic exchange rate fluctuations. The bank devaluated the ruble a little since it was stronger than expected,’ Kostarev added.