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Entrepreneurship and Sustainability Issues Open Access Q1
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Received: 2019-02-11  |  Accepted: 2019-07-11  |  Published: 2019-09-30

Title

The ruble exchange rate and the price of oil: assessment of the degree of dependence, its causes and ways of overcoming


Abstract

This article is an attempt to estimate the impact of the volatility of oil prices on the income of Russian economic entities associated with the oil realization, as well as the importance of the price of oil in stabilizing the exchange rate of the national currency. The authors have analyzed dependencies between the variance of the price of oil, ruble exchange rate against the US dollar and Russian oil export volume and observed the correlation between these indicators. It has been concluded that the problems of the Russian economy are expressed in the loss of dollar revenues from oil sales by 2.37 times in the last five years, which significantly affected the trade balance and served as the basis for the devaluation of the ruble. According to the results of the research, the authors suggest several solutions for raising the price of oil and stabilizing the ruble exchange rate.


Keywords

oil price, ruble rate, oil production volume, US dollar rate


JEL classifications

F37


URI

http://jssidoi.org/jesi/article/358


DOI


Pages

121-132


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Ustiuzhanin, Aleksei Anatolievich
Tyumen State University, Tyumen, Russian Federation https://www.utmn.ru
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Liman, Irina Aleksandrovna
Tyumen State University, Tyumen, Russian Federation https://www.utmn.ru
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Kiselitsa, Elena Petrovna
Tyumen State University, Tyumen, Russian Federation https://www.utmn.ru
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Shilova, Natalia Nikolaevna
Tyumen Industrial University, Tyumen, Russian Federation https://www.tyuiu.ru
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Leyman, Tatiana Ivanovna
Tyumen State University, Tyumen, Russian Federation https://www.utmn.ru
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Journal title

Entrepreneurship and Sustainability Issues

Volume

7


Number

1


Issue date

September 2019


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

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References