Expert decision when petrodollars OPEC went bankrupt

Expert decision when petrodollars OPEC went bankrupt of course. Bankruptcy news, rubles and exchange quotes fall as expected The ruble and exchange quotations are expected to fall.
The exchange rate of the national currency fell to its lowest level, reaching levels of 51 rubles per dollar and 63 rubles per euro. Since the 2010 crisis, the stock index fell to its lowest level. This is the market's reaction to OPEC's decision not to cut production last Thursday. According to expert forecasts, the fall of the ruble will continue. This will hit the entire economy, drive inflation, and lead to a series of bankruptcy chains, mainly in the banking sector. As a result, even though the authorities are optimistic that nothing terrible has happened in the market, bank customers still run the risk of not being able to receive their deposits and the risk of a continued economic downturn.
The ruble fell to a record low. In the first minute of currency trading on Friday, the US dollar rose to nearly 51 rubles, and the euro exchange rate exceeded 63 rubles. The fall in the Leroy ruble was a response to the fall in oil prices, which in turn was caused by the decision of the Organization of Petroleum Exporting Countries. On Thursday night, it was known that the cartel, which provides 41% of world oil production, did not cut production. Experts also believe that the prospect of the ruble against this background is very vague. -Predicted in a conversation with a leading economist at the development center. At the same time, according to him, the monetary authorities themselves aggravated the situation in the foreign exchange market by releasing the ruble. ,-Experts think.
In other words, by increasing revenue from oil and gas exports at the expense of the ruble, the country will have to pay more for the import and purchase of important imported goods. The cheap ruble will mainly hit state-owned companies, whose foreign debt is estimated to exceed $100.1 billion next year: they will have to sacrifice investment projects to repay their debts to foreign creditors.

The central bank only intends to withstand the pressure of the population in the most urgent situations. He will face an overall increase in the prices of all goods, products and services, including painful increases in tariffs on housing and public services.

As for the Russian stock market crashrelated to OPEC's decision, he believes it is more indicative of the overall economic recession observed. According to experts, the fact that the stock index fell below 1001 means that the Russian economy should prepare for a recession in the first quarter of next year. And banks and companies-a series of bankruptcies. Agree, this is a frightening prospect. So far, the authorities can only oppose the verbal optimism of senior officials responsible for economic development. Does national debt matter during the coronavirus crisis?