Russian ruble suffers steepest drop in 16 years

http://www.reuters.com/article/2014/12/16/us-russia-rouble-exchange-idUSKBN0JU0KO20141216 ^ | 16 Dec 14 | Alexander Winning and Vladimir Abramov

[elhombrelibre]

(Reuters) - The ruble plunged more than 10 percent for the second day on Tuesday and recorded its worst fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual overnight rate hike.

The rouble opened around 10 percent stronger against the dollar following the overnight 650-basis-point rate hike, but it reversed gains in early trade and fell to record lows, pushing losses this year against the dollar to over 50 percent.

At 0637 ET, the rouble was down over 11 percent against the dollar at 73.00 after dipping past 74 rubles per dollar for the first time. It was more than 15 percent weaker versus the euro at 92.99, dragged lower against both currencies by falling oil prices, increasing market panic and Western sanctions over Ukraine.

[elhombrelibre]

I won't rebut all of what you wrote because it's just an odd collection of blame America first.

If anyone resembles Hitler when he used the Sudetenland Germans and the Danzig Corridor, it's Putin. He's the one insisting that anywhere someone is who speaks Russian, he has a right to intervene on their behalf. So let's get our fact right, old fart. Facts matter. If you cannot figure out that Putin is driving the renewal of tensions, and if you want to blame the USA, I don't have time for you.

[oldfart]

Happy New Year!