Devaluation main driver of price rise in CIS longs markets

摘要

The collapse in oil prices and stock markets leading to a steep devaluation of the national currencies in CIS countries had a major impact on pricing policy of longs makers. A rapid increase in domestic prices was dictated by the need to reflect losses related to the devaluation which sent domestic sales performance markedly down. The rouble lost 18% of its value from early March, while the Ukrainian hryvnia weakened by 12%.