The Ruble is Collapsing – courtesy of BusinessInsider

by Marilou Long on October 8, 2014

in currencies,Foreign Markets,Geopolitical

The recent economic data out of Europe shows that the sanctions against Russia are impacting the EU as well as Russia.  The chart from this linked BusinessInsider article shows how much the sanctions are hitting Russia’s currency.

The Russian ruble has collapsed to a record low against a basket of  dollars and euros despite intervention by the central bank to prop it up.  The Russian central bank has spent as much as $1.75 billion from the country’s foreign  currency reserves to support the ruble, buying it on currency markets in an  attempt to prop up its price, over the past three days, according to Bloomberg.  But it has not halted the slide: 

 

Read more:  http://www.businessinsider.com/the-ruble-is-collapsing-to-record-lows-despite-central-bank-intervention-2014-10#ixzz3FYv33mFh

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