The exchange rate of the Russian rouble has sawed back and forth Wednesday morning, beginning with a five percent drop against the US dollar in the morning, but recovering slightly thereafter once the markets opened in Moscow. The value of the rouble has dropped sharply this week, causing it to lose 15 percent of its value. Over the course of the last year, the rouble has lost over half of its value. Yesterday evening news broke that US President Barack Obama was expected to approve of a new round of economic sanctions against Russia on Friday.
Monday the bank announced it was supporting the rouble with an injection of 1. The Russian news agency Tass reported Wednesday that Russian wheat producers announced a freeze on new export contracts concerning deliveries after February due to the unstable currency.
Forex Bank Finland has announced it will not be buying Russian currency for the time being from new customers, although it will still exchange currency it has sold in the past to existing customers. The decision was made on Tuesday, effective immediately. For Forex, fluctuations in value that surpass 20 percent are just too much.
Roubles will continue to be sold at Forex locations, however, and the bank stresses that the current ban is only temporary.
Most Russians believe the collapse is a direct result of the western-imposed trade embargo. Putin is scheduled to hold a televised speech on Thursday in which he is expected to address the situation. Timo Soini, chair of the parliamentary Foreign Affairs Committee and chair of the opposition Finns Party, was the only Finnish politician to comment on the Russian rouble developments by Wednesday noon. Soini says the effects of the economic situation in Russia are difficult to forecast, but he is concerned.
This would release the pressure. Opposition Greens chair Touko Aalto says that many students are failed by the Finnish education system, and risk social exclusion. The small municipality of Siikalatva in Northern Ostrobothnia aims to establish a municipal health clinic on the premises of a private Oulu health centre. The move would be unlawful, ministries say. One conscript died of friendly fire during a training exercise in in Syndalen, Southern Finland.
Courts sentenced two people to fines and one officer to 60 days in prison. The Finnish president says that a key ministerial committee takes a positive view toward Finland's hosting of a major international military exercise, but that concrete decisions will not be made until next year. Uutiset News Forex Finland has temporarily stopped buying Russian roubles from new customers, effective Tuesday.
No one benefits from a weak Russia Timo Soini, chair of the parliamentary Foreign Affairs Committee and chair of the opposition Finns Party, was the only Finnish politician to comment on the Russian rouble developments by Wednesday noon. He says finding a solution to the conflict in Ukraine should be paramount. Greens to submit interpellation on education inequality Opposition Greens chair Touko Aalto says that many students are failed by the Finnish education system, and risk social exclusion.
Ministries deem cross-municipal health centre unlawful The small municipality of Siikalatva in Northern Ostrobothnia aims to establish a municipal health clinic on the premises of a private Oulu health centre. Three convicted over accidental shooting of conscript One conscript died of friendly fire during a training exercise in in Syndalen, Southern Finland.
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