The rouble is caught in a tug-of-war today falling 3% in early trading before recovering its losses later in the day. At the time of writing it is struggling to hold onto its gains against the dollar. Over the last few months Russia’s currency has been grinding downwards against both the dollar and the euro as oil prices fell and the country’s economy weakened on the back of international sanctions over the Ukraine crisis. This week, however, the rouble moved from worrying to critical falling 11%, its biggest weekly loss since the aftermath of the country’s 1998 default. Dr Nicholas …read more
Source: Business Insider
