Are you planning a study abroad program to Russia but freaking out about the ruble’s crash? Don’t worry. The word on the street is that the Russian currency will stabilize early this January, to our advantage. What does this mean?

If you already have a booking in Russia, you’re probably in better shape than anyone else, because hotel contracts are usually in rubles and now it will take less dollars to buy the same amount of rubles. Hotels put these contracts in place to save themselves money in case the rate goes the other way, but when the rate goes the way it has, these contracts save us and our clients that money. In the end, the hotels will get the same amount of rubles as the original contract states, but we will pay less dollars, saving money.

All in all, if you had a contract in place prior to the crash, you should be saving money when it comes time to pay. If you didn’t have a contract in place, then your prices will likely be the same as they would have before the crash, once the new rate stabilizes.