Bid Book » Book1 » Political and Economic Climate and Structure » Inflation And Exchange Rate For National Currency
Consumer price index
 |
Year |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
Russia |
940.0% |
320.0% |
231.3% |
121.8% |
111.0% |
184.4% |
136.5% |
120.2% |
118.6% |
115.1% |
Moscow |
998.0% |
441.0% |
337.0% |
148.0% |
116.0% |
139.0% |
206.0% |
124.0% |
123.0% |
119.0% |
Source: Russian Statistical Yearbook; Moscow Statistical Yearbook
Annual average rate of exchange
(1000 roubles for US$ 1 up to 1997, rouble for US$ 1 since 1998)
 |
Year |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
Russia |
0.9917 |
2.1908 |
4.5592 |
5.1208 |
5.7848 |
9.7051 |
24.6199 |
28.12192 |
29.1600 |
31.3600 |
Source: Central Bank of Russia
During the 1990s, Russia underwent a dramatic transformation to a market economy. This was signified by hyperinflation in the beginning of the decade, three-zero denomination of the national currency since January 1, 1998 and a many-fold devaluation of the rouble in August 1998. Starting from 2000, the economy of Russia began to stabilize and transform itself into a more efficient system.
This change has been measured by a growth in GDP, population income, declining inflation rates and strengthening of the national currency. For the ongoing decade, the objective is to keep inflation at the rate of 10 percent or lower. Annual average growth of the rouble to US$ is forecasted to be within the limits between 3 to 5%.
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