17 Dec 2014
Ruble continues blood bath
FXStreet (Mumbai) - The Russian ruble continued heavy-sell off against the US dollar amid an extremely volatile previous session, neglecting any effort made by the Russian Central bank to contain the falling currency.
Currently, the ruble trades at 69.69 levels down -2.42% on the day, after slumping more than 20% and reached a new all-time low of 80.02 levels in the previous volatile trading session. The ruble ignored the Russian central bank’s measure of an interest rate from 10.5% to 17% late Monday. Russian central bank’s reiteration, that it is ready to defend the ruble with more measures if needed also failed to provide any support to the currency.
Russia's currency is the world's biggest loser on the forex market, falling almost 53% over the year against the US dollar, so far this year.
Currently, the ruble trades at 69.69 levels down -2.42% on the day, after slumping more than 20% and reached a new all-time low of 80.02 levels in the previous volatile trading session. The ruble ignored the Russian central bank’s measure of an interest rate from 10.5% to 17% late Monday. Russian central bank’s reiteration, that it is ready to defend the ruble with more measures if needed also failed to provide any support to the currency.
Russia's currency is the world's biggest loser on the forex market, falling almost 53% over the year against the US dollar, so far this year.