Practise defining nominal exchange rates as currency prices, converting cross-rates and distinguishing them from real exchange rates adjusted for relative price levels.
Russia's economic problems are getting worse
Russia's currency, the rouble (RUB), has been falling rapidly in value.
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An index of the real exchange rate fell from a value of 100 in 2010 to 75.8 in 2015 and this should have the effect of eventually helping to encourage exports.
Table 1.1: Selected economic indicators for Russia 2013-2015
Source: Adapted from The World Fact Book
Explain the difference between a nominal exchange rate and a real exchange rate.