Thus, the currency has lost nearly 40 percent since January.
Even the Moscow Stock Exchange falls. RTS index, which reflects the market value of the dollar falls 2 percent to their lowest level in over five years.
Russian recession, with high inflation pressures, and geopolitical concerns have prompted investors to move out record sums from the country.
Crisis Situation compounded by sanctions against Russian businessmen and corporations as a result of Russia’s annexation of Crimea and fighting in eastern Ukraine.
Taxes and charges on crude oil and natural gas draws in half of the Russian state revenues .
The Russian Central Bank, which made massive support purchases to stem the ruble’s case, tried last Thursday without success stem the ruble’s race with an unexpected increase in the policy rate to 10.5 percent.
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