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The Russian Ruble Crisis

April 1, 2020 By Jeremy Jones, CFA

By RUI FERREIRA @ Shutterstock.com

Six years ago, oil was trading at $100 per barrel and the Russian ruble was trading at 35 to the dollar.

Translating that exchange rate into oligarch terms, it would have taken about 4.5 million rubles to buy one of Mercedes’ coveted G-class SUVs.

Today, oil trades at about $20 per barrel and for oligarchs with 4.5 million rubles to spend on a SUV, it’s time to start looking at Chevys.

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Jeremy Jones, CFA
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Richard C. Young & Co., Ltd. was ranked #10 in CNBC's 2019 Financial Advisor Top 100. Jeremy is also a contributing editor of youngresearch.com.
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