Why does the ruble depend on oil, not on gas and not on gold? Why is the ruble's rate dependent on the price of oil, and the dollar rate is not?

The value of the national currency and the price of oil are directly correlated.

Many people in our country are wondering why the ruble's exchange rate depends on oil. Why if the price of black gold is declining, the imported goods become more expensive, it is more difficult to get out to rest abroad? In this case, the national currency becomes less valuable, and with it - and all the savings.

Why does the ruble depend on the price of oil?

The price for the ruble is set depending on the proposals for the euro and the dollar on the Moscow stock exchange. However, there are a lot of factors affecting the fluctuations of the currency market. Very often the question arises, why does the ruble depend on oil, and not on gas? Blue fuel also forms a price for the ruble, but to a lesser extent.

The Russian economy and its budget are dependent on the price of raw materials. Half of the revenue of the treasury is formed from the profits that the country receives, trading in oil, gas and metals.

The ruble exchange rate is dependent on the prices of energy resources that form the export of the Russian Federation. They determine the status of the current balance of payments account.

From this issue is formed no less logical: why does the ruble depend on oil, and the dollar does not? After all, the United States also has hydrocarbons. And their oil has fallen as cheaply as ours.

The fact is that the ruble is a more raw currency. In this sense, the US makes more money. After all, with the development of various sectors of the economy, the national currency is easier to stay afloat. Therefore, the dollar is more stable and less subject to crisis fluctuations.

Reasons for cheap oil

To understand why the ruble depends on oil, it is necessary to understand what factors form the price of hydrocarbons.

To the rapid decline in the price of black gold on a global scale has led to several factors:

1. The main consumer in the world market of hydrocarbons is China. The period of intensive economic growth of this giant has passed. Now the PRC is not developing at such a frantic pace, so it needs less raw materials.
2. Manufacturers of cheap oil shale, the USA, are dumping world prices for minerals, in turn, monopolists in the market lower prices as much as possible to squeeze out a competitor.
3. The recent lifting of sanctions from Iran led to the fact that this country began to increase the volume of oil production. At the same time, OPEC members also do not want to reduce the rate of extraction of black gold.

In the hydrocarbon market, a surplus has formed, when supply exceeds demand. Now the buyer dictates the price to the market, so the price goes down.

Prerequisites for an increase in energy prices

The rise in oil prices, observed a while ago, created some prerequisites for a more or less stable ruble. In general, over the last period, the national currency is held in one corridor. This is to the question of why the ruble depends on oil. Such a small stabilization is caused by the recent agreement of the OPEC member countries. Large exporters of black gold pledged to reduce the rate of hydrocarbon production.

The situation temporarily stabilized, and the price of oil grew slightly, allowing the national economy to breathe a little.

How to save the national currency?

In fact, there are not so many ways out of the oil crisis, pushing the ruble to the bottom, and shaking the national economy.

First of all, and it is obvious, we should wait for the growth of the price for fuel. The question is that no one knows when the price of oil will be adequate. After all, Russia is not the only country that extracts black gold. In addition, technologies that allow to receive alternative energy do not stand still, and this, again, hits the demand for oil, respectively, and at prices.

A more progressive option is to develop other sectors of the economy. The idea of import substitution in this sense is very useful. Now we are not just consumers of the benefits that we were given from abroad. The country itself creates these blessings by using its own resource, including human resources. This strategy is not one day. With this development, the question: "Why does the ruble depend on oil?" Will not be so acute. This strategy will make the domestic currency more stable, and citizens - more protected in the social plan.

Devaluation

The revenues of the Russian budget fell sharply after the collapse of oil prices. Adjusting the exchange rate of the national currency allows some time to balance the economy of the country.

The longer the ruble is able to be held in one corridor, the less the consequences threaten the country's budget. The Russian economy is very dependent on imports, so the dollar, within the range of 55-60 rubles, does not allow high inflation.

In general, the heat in the foreign exchange market is reduced due to import substitution. This strategy directly stimulated the agricultural sector of the economy. Domestic products can now compete in price and quality with imported products. A sharp strengthening of the ruble is not profitable for the same reasons.

Also, there is another instrument used by the Central Bank of the Russian Federation, an increase in the interest rate. A large interest rate strengthens the ruble, as it attracts market participants to keep money in domestic currency.

Exchange speculation

It's no secret that they earn on exchange rate fluctuations. Very often in the process of the game include serious financial organizations and banks. Operating in large amounts, participants can significantly affect the redistribution of the forces of currencies, because this way you can change the supply and demand. Small players, trying to apply, only more unbalanced exchange rate fluctuations.

The US dollar is difficult to influence, because trillions are launched into the world system. The weight of the ruble in world circulation is relatively small. In principle, it would have been easy to ruin it, had it not been for the occasional intervention of the Central Bank of the Russian Federation.

The central bank has foreign exchange interventions and monitors the adequacy of the change in the exchange rate of the domestic currency. When selling interventions, the ruble is strengthened. Buying dollars - reduce.

In the early 2000s, when the price of oil was extremely profitable, the Central Bank bought dollars in the stock.

Why does the ruble depend on oil, not gold?

Now in the world there are almost no countries that have tied their currency to the gold reserve. If we proceed from realities, one ruble contains about 4 gold cents. For example, the US dollar contains about 3 gold cents.

Earlier, when money was minted from alloys containing gold and silver, they were in themselves provided, but for almost 50 years the currencies and the gold reserve of the country have been separated.

At the moment, Indian rupee is the leader in terms of gold supply, which is provided by gold by 7%.

Since the domestic currency is weakly backed by gold, then there is no question of dependence on gold reserves.

The reasons for the jumps and falls of the Russian currency can be very diverse. Often they are difficult to analyze. Maybe a little time will pass, and the question of why the ruble depends on oil will not be so relevant.