Cover IMF Working Papers
Exchange Rate Determinants in Russia: 1992-1993
Author: Mr. Vincent Koen and Mr. Eric Meyermans
Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 066
Language:
English
Publication Date:
01 Jun 1994
DOI:
https://doi.org/10.5089/9781451848755.001
ISBN:
9781451848755
ISSN:
1018-5941
Pages:
62
Keywords:
WP; U.S. dollar; spot exchange rate; foreign exchange market; nominal exchange rate; interest rate; price level; ruble auction; CBR intervention; Exchange rates; Currency markets; Exchange rate arrangements; Correspondent banking; Central and Eastern Europe; Eastern Europe; Baltics
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper examines the evolution of the exchange rate of the ruble vis-à-vis the U.S. dollar from exchange rate unification, in July 1992, to the end of 1993. The expected and actual paths of the exchange rate are related to the exchange and trade regime and to the stance of financial and exchange rate policies. An econometric analysis based on weekly data is offered, which suggests that monetary factors have a significant impact on the short run behavior of the exchange rate.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund