Value of ruble sank again, so Putin imposed interest rate hike to - TopicsExpress



          

Value of ruble sank again, so Putin imposed interest rate hike to 17 percent overnight (to attract funds to buy ruble) and it didnt work. Ruble peaked at about $79-80 per ruble, and is now settling down at $62-ish per ruble, but Russia stocks are reeling worldwide. This is caused partially by the 50% drop in world oil prices since June, plus the U.S. imposed sanctions (due to actions against Ukraine), which prevent Russian companies from getting capital on the world market. bloomberg/news/2014-12-16/ruble-snaps-six-day-loss-on-surprise-rate-increase-to-17-percent.html Looks like the Russian bear Putin may have to retreat to cave to hibernate.
Posted on: Tue, 16 Dec 2014 18:29:02 +0000

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