There are no risks of currency crisis in Russia

There are no risks of currency crisis in Russia

Analysts of Japanese financial company Nomura developed exchange-rate crisis index. They called it Damocles. According to Nomura's report, published on September 10, this index includes 30 emerging markets that are close to currency cataclysms. It will be updated on a quarterly basis.

As of the third quarter (July of this year), seven emerging markets are at greatest risk: Sri Lanka, Argentina, Turkey, South Africa, Pakistan, Egypt and Ukraine.

In addition, index allows us to identify a group of countries with very low risks: there are no risks in Brazil, Bulgaria, Indonesia, Kazakhstan, Peru, Thailand and Russia.

The advisor on macroeconomics to the CEO of the 'Opening-Broker' brokerage house, economist Sergey Hestanov, speaking with Vestnik Kavkaza, said explained how situation with the Russian ruble differs from situation in Turkey, Argentina and other countries from Nomura's crisis list.

"Unusual nature of current ruble drop is that it is falling against the background of large surplus of Russia's trade balance: our country earns much more currency than it spends, it has a lot of international reserves and low national debt," he said.