“Russia’s central bank said Friday it was ready to step in to protect the crashing ruble, after the currency was hammered by a day of panic selling that have sparked fears of a full-blown crisis.  The policy U-turn came just two days after the central bank said it would limit its support for the falling currency.  The ruble has lost 10 percent in value in the course of the week amid plunging oil prices and the fallout from the Ukraine crisis. The central bank last week jacked rates up from 8.0 to 9.5 percent.  Sanctions have also made it nearly impossible for Russian companies to borrow in the West, with the local currency market under pressure as firms buy dollars to repay existing loans.”

http://news.yahoo.com/black-week-ruble-fall-hits-time-low-005617150.html

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy