The enlightenment of the drop in oil prices and the ruble crisis
Year: 2017

From the July 2014, the international crude oil price has been continuously declined. The exchange rate of ruble has been depreciated. The crisis of ruble happened because the Russia's economy dependeds on oil export highly. According to the research, The RMB exchange rate is a one-way cause-and-effect relationship with oil price, Russia and China are at the same stage in the process of establishing a market economy, and the Russian ruble crisis in the country is worth our learning.