Question
Use the following information to answer the question According to CNBC(28.2.2022 )the Russian ruble was trading as low as 119 per dollar as offshore trading
Use the following information to answer the question
According to CNBC(28.2.2022 )the Russian ruble was trading as low as 119 per dollar as offshore trading started in the morning during Asia hours, from nearly 84 per dollar the previous close, according to Factset data. It later pared some of its losses, trading at 93 per dollar by 3:30 p.m. in Moscow.
a-Calculate by how much did the Russian ruble depreciate in one day?
b-If Russias central bank decided to intervene in the Foreign Exchange Market, what are the conditions for intervention and do they apply in the Russian context?
c-Explain briefly the steps that Russias central bank will undertake to intervene in the foreign exchange market?
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