-
- View Center
- Economic Research
- Market Strategy
- Critical Issues
- Region
- Topic
-
Log In
Log In to Your Account
You must be logged in to access premium content.
If you are a client, please login now.
If you are a new user, please click here to register.
If you have a Client Code, please enter it here to activate your client account.
Roubini Global Economics, LLC has revised its Terms of Use and Privacy Policy, effective October 1, 2009. A summary of the changes is here. If you do not agree to these changes, please cancel your account immediately. Failure to cancel your account within 30 days of the first time this notice is presented to you will mean that you agree to the changes.
Briefing
CIS Currency Trends
Critical Issues
Background:
Most countries in the Commonwealth of Independent States (CIS), such as Ukraine, Kazakhstan, Belarus, and Armenia, have devalued their currency as a precondition to a IMF bailout as these economies struggle to cope with slumping exports and the task of seizing access to credit markets. Despite initial devaluation, these currencies may still have to be devalued by as much as 20%. (Lissovolik) The IMF states that declining imports have reduced foreign exchange demand, but this has been more than offset by the conversion of deposits and cash to foreign currency. Expectations are mounting that there will be depreciations of local currency in the CIS.
If you are an RGE client please log in to your account.
Access to this content is restricted to RGE clients.
If you have a client code, please enter it here to activate your client account.
Click here for a free trial.
Learn About Our Services:
Our dynamic and intuitive research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.
RGE market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:
• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio
Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.
Associated Readings
Analysis
IMF
May 11, 2009
Exchange Rate Policies: Coping with New Challenges in Caucasus and Central Asia Countries
News
Bloomberg
Mar 20, 2009
Ukraine, Ex-Soviet Currencies May Drop More, Deutsche Bank Says
News
Bloomberg
Mar 03, 2009
Armenia Devalues Dram by 21% to Clinch $540 Million IMF Loan
Analysis
RGE Analyst's EconoMonitor
Feb 06, 2009
Russia and Kazakhstan: A Tale of Two Devaluations
News
EurasiaNet
Jan 21, 2009
Central Asia Faces Currency Crisis
News
Bloomberg
Jan 15, 2009
Kazakhstan May Be Next to Devalue Currency, Say UniCredit, RBC
Analysis
Economist Intelligence Unit
Nov 29, 2008
Ukraine economy: Currency collapse
Analysis
Citigroup Global Markets
Nov 14, 2008
Focus on Kazakhstan: Oil, the tenge and depositor confidence; Poland: Inflation likely to return to the MPC’s target range in 2009
News
AZA
Mar 03, 2009
Chairman of the National Bank of Azerbaijan: Manat devaluation is not expected
Opinions
Central Asia-Caucasus Institute
Dec 11, 2008
Currency Changes in Turkmenistan: Economic Reforms on the Way?
Analysis
BNP Paribas
Jun 13, 2008
CIS: Progressive Currency Revaluation
Analysis
Eurasia
Sep 24, 2004
Russia pushes trade for CIS unity
News
Kommersant
Jul 8 , 2008
Ruble Suggested as Reserve Currency
Blogs
Forex and Finance.
Jul 11, 2008
Medvedev: the Rouble can become the regional reserve currency
Analysis
Asian Development Bank
Jul 31, 2008
Kazakhstan: The Case for Floating and Inflation Forecast Targeting
Analysis
ING CIS Fixed Income Daily
Nov 11, 2008
Georgia: Central Bank allows 15% devaluation of the lari
RESEARCH AND STRATEGY FIXTURES
  |
 |
Top 10 Most Read
Featured Economic Research and Market Strategy
Related Articles
Featured Analysis
The EZ Balance of Payments Crisis: TARGET2 Debate Revisited
“With German headline inflation readings above the 2% y/y target for over a year and growth prospects much brighter than in the rest of the EZ, the Bundesbank is weary of further easing.”
FEATURED @ RGE
ROUBINI FEEDBACK FORUM
What Do You Think?
Weigh in on Roubini.com's new look or report any problems you encounter.