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Russian Ruble Crashes to World's Worst-Performing Currency


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2014 Dec 15, 10:45am   1,883 views  5 comments

by RWSGFY   ➕follow (4)   💰tip   ignore  

http://www.themoscowtimes.com/article/513309.html

The ruble collapsed by 10 percent against the U.S. dollar Monday earning the Russian currency the dubious laurels of the world’s worst-performing currency this year. The Russian currency has now fallen 49.3 percent against the greenback since January, according to data from the Moscow Exchange. The drop takes it below the Ukrainian hryvna, which has weakened 47.9 percent in 2014. Monday’s plunge was the largest single-day fall for the ruble since the financial crisis of 1998 when Russia was forced to default on its debt after exhausting its reserves in a fruitless bid to prop up the currency. In evening...

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1   Strategist   2014 Dec 15, 11:42am  

Straw Man says

The ruble collapsed by 10 percent against the U.S. dollar Monday

If that happened to the dollar the world would come to an end. Trust me on this. But to Russia, it means not much.

2   RWSGFY   2014 Dec 15, 1:17pm  

Strategist says

Straw Man says

The ruble collapsed by 10 percent against the U.S. dollar Monday

If that happened to the dollar the world would come to an end. Trust me on this. But to Russia, it means not much.

It meant a lot for them every time it happened there (and it has already happened at least twice). Third time's a charm.

3   Strategist   2014 Dec 15, 2:02pm  

Straw Man says

Strategist says

Straw Man says

The ruble collapsed by 10 percent against the U.S. dollar Monday

If that happened to the dollar the world would come to an end. Trust me on this. But to Russia, it means not much.

It meant a lot for them every time it happened there (and it has already happened at least twice). Third time's a charm.

Their world is collapsing, but I was referring to the world. Russia is not numero uno.

4   bob2356   2014 Dec 15, 7:24pm  

Excellent time to pick up Russian stocks. There's some seriously undervalued ones out there.

5   RWSGFY   2014 Dec 16, 2:35pm  

bob2356 says

Excellent time to pick up Russian stocks. There's some seriously undervalued ones out there.

LOL

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