Causality of ruble devaluation

Abstract

Subject. This article discusses the issues related to the problem of devaluation of the Russian ruble. Objectives. The article aims to show the causality of the devaluation of the Russian ruble. Methods. For the study, I used a systems approach based on a statistical analysis. Results. The study reveals a significant increase in the debt of the non-financial sector and households, and the high volatility of quoted shares of Russian issuers. Conclusions and Relevance. The causality of the devaluation of the ruble, associated with the need to securitize Russian assets in the context of growing international reserves in terms of the sufficiency of financing twenty percent of liabilities in US dollars and a decrease in the gold content of the ruble, indicates the possibility of influencing the ruble exchange rate to the Central Bank of the Russian Federation. The provisions of the study expand the competence of the Central Bank of the Russian Federation to form a set of measures to stabilize the ruble exchange rate.