Moscow (AFP) – Russia’s currency on Friday slid to a historic low, losing over 10 percent in value over the course of the week amid falling oil prices and the fallout of the Ukraine crisis.The fall sparked panic as the euro reached the 60 ruble mark for the first time and the dollar passed 48 rubles.The ruble then gained slightly with the market expecting the Central Bank to step in.”This is a full-scale panic with hints of a currency crisis based on self-fulfilling expectations,” said ING analyst Dmitry Polevoy. “It’s difficult to stop panic among the public,” he said, calling …read more
Source: Business Insider
