• Yes, oil price is global thing.

    Russia's economy has been hurt by two big things: price of oil and economic sanctions. The sanctions are having bad effects on Russia - not only because of the sanctions themselves, but also those that Russia had placed on other countries to try and hit back. It's just resulting in further and further economic isolation.

  • The Russian Ruble collapse is permanent

    Although it is an unfortunate loss of history, I believe that the collapse of the Russian Ruble is permanent. In a constantly expanding economy, I think that there will a standardization of money throughout the world's economy. The Euro is not even at the top of it's game right now. But I think that as money fluctuates throughout the world, then some different forms of money will die out. Just as Greece did when they converted to the Euro, leaving their drachma's behind.

  • It is hard to resurrect a currency

    The collapse of any currency is a unfortunate, but it is rare that a currecncy regains its former standing power. The collapse of the Russian Rouble should be considered permanent because it is a result of the mismanagement of the government. It seems unlikely that there will be any reforms in governing policies in Russia and so its currency will not become strong again.

  • No, it had been their currency for hundreds of years.

    I don't think it will be permanent, albeit perhaps not as well as their economy hopes to be, but I don't think they will get rid of the ruble since it has been their main form of currency for about 500 years. That would be like the USA getting rid of or changing the dollar.

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