Posted on 11/05/2014 11:59:07 AM PST by elhombrelibre
Struggling Russian ruble falls to all-time low as central bank decides to reduce support
Russia's ruble hit an all-time low on Wednesday after the country's central bank said it would dial back its support for the struggling currency in international markets.
The announcement is a step toward freely floating the currency, which the central bank currently tries to support in foreign exchange markets.
As confidence in the Russian economy wanes, supporting the ruble is proving increasingly difficult — and expensive. The ruble has lost more than 25 percent this year amid concern over economic sanctions from the United States and the European Union as well as a fall in the price of oil and gas exports.
(Excerpt) Read more at finance.yahoo.com ...
KGB’ist Putin has done more damage than most understand yet.
Yes, that’s true. He delusional mind makes him Putin the Great, like Peter. In reality, he’s almost as bad for Russia as Obama is for America.
The Rubble could be good for a bounce at 0.020
Lower than it’s Soviet-era value of zero?
The ruble isn’t what it once was.... the cost of war
It’s easy to see on the micro economic level. I cannot imagine Putin’s-Ruble-destroying policies are doing to the macro economy of Russia.
No surprise there. The ruble is in free-fall, and the central bank was facing the prospect of spending substantial amounts of real money to try to prop it up.
I guess the Soviet empire is getting the big squeeze before the arrogant bastard Putin even had a chance to put his beloved Gulag back together again.
Other than guns and bullets and oil what does Russia produce that anybody would want?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.