Economics Russia

For the first time after May 2005 exchange rate of a dollar dropped below 28 rubles

25.01.2006 Editor

MOSCOW, 24 January, Caucasus Times. According to ITAR-TASS, this Tuesday exchange rate of American currency dropped by 6.14 copecks. During two last days, dollar fell by 30 copecks.

Depreciation of a dollar is going on much faster than it was estimated earlier taking into consideration fluctuations of euro-dollar in the range of 1.2250-1.2305 dollars per euro.

Analysts believe that the fall of American currency is caused by the statements of the heads of the Federal Reserve System about the possibility of the end of a cycle of high interest rates in the USA.

In the meantime, representatives of European Central bank made statements about the possibility of higher interest rates in the current quarter, which supported the euro. Bank of Russia is also currently not taking measures to support American currency.

Caucasus Times

Editor

The “Free Eurasia” project is an independent media platform based in Prague, with an ambitious mission to provide the regions of Central Asia and the Caucasus with high-quality, objective and timely information in their national languages. We unite the expertise of editors and journalists working in Tajik, Uzbek, Kazakh, Kyrgyz, Circassian, Avar and Russian to break the monopoly of state-run Russian-language media and amplify the voices of local communities. Direction Our work focuses on comprehensive coverage of social, political, economic and cultural developments in Central Asia and the Caucasus, as well as the issues facing diasporas in Russia, Turkey, China and other countries. We produce news, analytical articles, video reports, podcasts, interviews and journalistic investigations. Special attention is paid to topics rarely addressed by state media: human rights violations, corruption, ethnic and cultural identity, migration and international relations. We strive to engage audiences of all ages, with a particular emphasis on young people and residents of remote regions, offering them digital content in their native languages. Goal Our main goal is to promote the development and sustainability of independent media in Central Asia and the Caucasus. We aim to strengthen the region’s informational sovereignty by expanding access to truthful sources and raising media literacy. At the same time, we support the development of national languages as key elements of identity and cultural heritage, encouraging public discussion and engagement. The project seeks to become a catalyst for building a strong civil society and defending democratic values, helping to train new professional journalists and fostering international cooperation.

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