The Rise of the Ruble

[bwhhisc]

The Russian currency continues to climb in value and stature. "The ruble is buoyant because of high oil prices and the Russian government's "extraordinarily strong" budget controls, meaning its value could be underestimated by up to "35 to 40 percent," he added"

http://news.yahoo.com/s/afp/20070506...e_070506032053

[Rubber Duck]

Originally Posted by bwhhisc

The Russian currency continues to climb in value and stature. "The ruble is buoyant because of high oil prices and the Russian government's "extraordinarily strong" budget controls, meaning its value could be underestimated by up to "35 to 40 percent," he added"

http://news.yahoo.com/s/afp/20070506...e_070506032053

The entire financial World seems to be bracing itself for the dollar's fall from grace. Its position as the World's Reserve Currency is no longer tenable. Longer-term it could possibly be replaced by the Yuan or Euro, but in the Interim, it looks as though there are going to be several major currencies competing as major reserve currencies.