Russian Foreign Exchange Market Research

This paper focuses on the questions:the formation and development of the Russian foreign exchange market; reform stage and achievements, shortcomings of exchange rate system;the status of the foreign exchange market, problems were analyzed. The article thinks that the formation of the foreign exchange market is a more complicated process in the process of economic transiformation in Russia. For more than two decades, after several reforms the Russian foreign exchange market achieved some success in the exchange rate mechanism, market structure and organization, but there are also many problems in the market structure of the single currency, irrational allocation of resources and many other issues. In free convertibility of the currency by "shock therapy" style economic policies, Russian government blindly opened capital account, leading to massive capital flight and the ruble exchange rate fell, the Russian economy has been hit hard. In the new century, the international energy rise in price, the Russian energy income increases, the macroscopic economy changes for the better gradually, a ruble exchange rate is steady and rising, in foreign exchange market foreign exchange supplies full.2008 the financial crisis influence, the international oil price is sharped drop, the massive foreign exchange pull out run away, a ruble large scale depreciation, has created the serious attack for the foreign exchange market. Finally, the prospects for the Russian foreign exchange market were analyzed.