July border crossings up 8%

The Russian ruble performance versus the Norwegian krone has led to more value for money when people from Murmansk go to neighbouring Kirkenes for shopping.

Last year, following the dive of the ruble, border crossings between the Kola Peninsula and Norway were down 3,8%. Now, the downward trend might see an end.

Since September last year, the value of ruble versus the krone has increased by nearly 15%, from about 0,12 to 0,14 kroner for one ruble.

“The figures for July show that 21,269 border crossings took place at Storskog. This is an increase by 7,61% compared with July 2018,” the police in charge of Norwegian immigration at the border checkpoint writes in an e-mail to the Barents Observer.

However, a good exchange rate and inflation at a historic low do not mean all economic forecast shows clear skies. 2019 seems to be the six straight year with a fall in real incomes for most Russians, the Financial Times recently reported.  

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