Russian Ruble to be Revalued
It seems like no one wants to leave the Chinese alone when it comes to revaluing the yuan.
Here is some news that I am sure the Chinese would like to see spread all over the pages.
The Russians say their economy is not ready to introduce the idea of a ‘floating ruble’ yet because it involves:
1. economic risks
2. reevaluation (sounds like revaluation) of the states participation in the economy.
Russia’s Federal Financial Markets Service Head, Oleg Vyugin said, "we’re not ready."
People think the ruble rate is undervalued, he said. That statement could be put in any economic commentary about the Chinese yuan as well.
"No one knows the ‘fair’ market rate as only the market can determine that when the Central Bank did not interfere with trade," he said.
Yep, sounds like we are talking about China again.
Question: When should the market be allowed to determine what is fair?
When should a government, Russia, China or otherwise stop interfering?
What do you think?
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