After a few strong weeks, the ruble fell again following a new offensive in Ukraine and another drop in oil prices. On Wednesday, the ruble slipped nearly 2.7% to a 6-week low of 54.26 rubles. The currency’s plunge follows reports of fighting with “heavy artillery and tanks” in the Donetsk-region towns of Maryinka and Krasnohorivka after a relatively quiet three-month period. “Any sign of an escalation of the conflict in Ukraine is going to cause concern in the Russian markets,” William Jackson, an analyst at Capital Economics Ltd. told Bloomberg. “It increased the likelihood that sanctions may be renewed or …read more
Source: Business Insider
