RE: Ruble9 Mar 2020 13:04
Drunk - here are some comments from the CFO talking about how many of our Rouble associated costs had increased in 2018 but the drop in the Rouble against the Dollar had mitigated the effect:
"Compared with 2017 there was ongoing inflation of certain Rouble denominated costs, in particular, electricity costs increased by 3% in Rouble terms (decreased by 4% in US Dollar terms) and the cost of diesel increased by 26% in Rouble terms (increased by 17% in US Dollar terms). The Rouble depreciated against the US Dollar by 7% in 2018 compared to 2017, with the average exchange rate for the period of 62.68 Roubles per US Dollar in 2018 compared to 58.32 Roubles per US Dollar in 2017, somewhat mitigating the effect of Rouble denominated costs inflation."
The devaluation in the Rouble is to our benefit as should be the cost of diesel though I'm sure we'd all prefer some stability.