Ruble slides to new low

[rightwinger]

Russia s ruble currency slides to new dollar low

The Russian ruble currency declined sharply against the dollar on Tuesday despite an aggressive intervention just hours earlier by Russia's Central Bank to halt the slide by hiking its benchmark interest rate to 17%.
The ruble fell to a new low of 73 against the dollar on Tuesday.

 

[martybegan]

Russia s ruble currency slides to new dollar low

The Russian ruble currency declined sharply against the dollar on Tuesday despite an aggressive intervention just hours earlier by Russia's Central Bank to halt the slide by hiking its benchmark interest rate to 17%.
The ruble fell to a new low of 73 against the dollar on Tuesday.

Lets just hope they don't try to distract the masses with some foreign adventure.

 

[Statistikhengst]

Hmmmm, interesting.

 

[Book of Jeremiah]

It's a deception. The Russians have never been in a stronger position than they are in right now. Both militarily and financially. Do not believe everything you are told.

 

[rightwinger]

It's a deception. The Russians have never been in a stronger position than they are in right now. Both militarily and financially. Do not believe everything you are told.

I blame the Liberal media

 

[BullKurtz]

It's a deception. The Russians have never been in a stronger position than they are in right now. Both militarily and financially. Do not believe everything you are told.

Putin's state funeral is scheduled for May Day, 2015.....Ivans are sick of tyrants...don't believe everything YOU are told.

 

[BlackSand]

Russia s ruble currency slides to new dollar low

The Russian ruble currency declined sharply against the dollar on Tuesday despite an aggressive intervention just hours earlier by Russia's Central Bank to halt the slide by hiking its benchmark interest rate to 17%.
The ruble fell to a new low of 73 against the dollar on Tuesday.

It is a considerable decline as well ... Seeing as it fell from somewhere around 35.

.

 

[Mr. H.]

The Ruble is in the rubble.

 

[g5000]

This is good news. But I doubt Putin's popularity will take much of a hit at home. He will blame America and his admiring millions will fall in line.

Nonetheless, this will make his "foreign adventures" more difficult to fund and perpetuate.

 

[BlindBoo]

Thank God the Republicans finally did something......oh wait.....they were sucking Putins putter........never mind.

 

[rightwinger]

I feel sorry for Mr Putin

Manly, world renowned "tough guy" is seeing soaring interest rates and a crashing ruble

Meanwhile a whimp like Obama is sitting on the worlds strongest economy

 

[jwoodie]

Thank God the Republicans finally did something......oh wait.....they were sucking Putins putter........never mind.

Speaks volumes about you, but nothing about the OP.

 

[BlindBoo]

Thank God the Republicans finally did something......oh wait.....they were sucking Putins putter........never mind.

Speaks volumes about you, but nothing about the OP.

How naive of me to think Vlad plays golf!

 

[deltex1]

Russia s ruble currency slides to new dollar low

The Russian ruble currency declined sharply against the dollar on Tuesday despite an aggressive intervention just hours earlier by Russia's Central Bank to halt the slide by hiking its benchmark interest rate to 17%.
The ruble fell to a new low of 73 against the dollar on Tuesday.

So much for Libtard government control.

 

[waltky]

Putin havin' to deal with weakening ruble...

As recession looms, Russia acts to support ruble
Dec 23,`14 -- With its economy spiraling toward recession following Western sanctions and a dramatic fall in the price of oil, Russia took another step Tuesday to shore up the value of the ruble, which has been one of the world's worst-performing currencies this year.

Russia's energy-dependent economy has suffered a severe economic shock over the past few months, largely because oil prices have tanked - the benchmark New York rate has fallen by around a half since June to stand at not much more than $55 a barrel. Because the Russian economy remains hugely reliant on energy revenues, that spells trouble. Credit rating agency Standard & Poor's put the country on notice that it may face a downgrade following "a rapid deterioration of Russia's monetary flexibility and the impact of the weakening economy on its financial system." S&P said it plans to make an announcement by mid-January. Any cut from the current BBB- would push Russia's debt rating into so-called "junk" status. Russia's woes could also pose problems for the global economic recovery. It is one of the major uncertainties heading into 2015, particularly for the 18-country eurozone.

In a move Tuesday to contain the ruble crisis, the government instructed five of the country's biggest state-controlled exporters to reduce their foreign currency assets to October levels and to not raise them again until March. The companies targeted were gas giant Gazprom, oil companies Rosneft and Zarubezhneft and diamond producers Alrosa and Kristall. On Tuesday, the ruble was steady as it has been for the past few trading sessions, floating around the 55 mark against the dollar, a big gain on last week when the ruble plunged at one point to near 80 against the dollar. With Russia heavily dependent on imports, jittery consumers rushed to buy cars and emptied shelves at electronics and home appliances stores to pre-empt the price rises. Others besieged bank offices to withdraw their deposits and buy dollars or euros - the panic that raised the threat of a full-fledged banking crisis if it's not contained quickly.

John J. Kirton, professor of political science at the University of Toronto, said the EU economies would face a drop in their exports to Russia and could also be hit by its banking crisis. "I think there is a clear and present danger, today or tomorrow, because of a financial crisis that is already under way in Russia and that is affecting Europe in ways we don't yet understand," he said. In response to the falling ruble, Russia's central bank last week increased its key interest rate to a whopping 17 percent. Though that may help ease the selling pressure on the ruble by encouraging traders to hold onto the currency in anticipation of big returns, it is going to hobble Russian businesses and households if maintained at that level for too long.

Russian Prime Minister Dmitry Medvedev promised that the interest rate will be reduced once the ruble stabilizes, but acknowledged that the country faces the risk of a "deep recession." Medvedev said Russia's current economic difficulties were exacerbated by Western sanctions, pointing that "a number of countries are effectively hampering the development of our economy." "There are hopes to turn Russia into a pariah and reduce it to lower ranks in the ratings," Medvedev said. "This will never happen." The U.S. and the European Union have slapped a series of sanctions on Russia over its annexation of Ukraine's Crimean Peninsula and support for a pro-Russian insurgency in eastern Ukraine. The closure of Western capital markets for Russian companies and banks has been particularly painful, raising pressure on the ruble.

News from The Associated Press

 

[Old Rocks]

That is what happens when you bring boxing gloves to a chess match.

 

[blackhawk]

Does Putin still have the Crimea? Is he still causing trouble in Ukraine?

 

[rightwinger]

Does Putin still have the Crimea? Is he still causing trouble in Ukraine?

And tough guy and Conservative idol Putin is feeling the consequences of his actions

Conservatives celebrated Putins annexation of Crimea and incursions into the Ukraine. They pointed out how ineffective and weak our President was with his economic sanctions.

Today, Putin is struggling to keep his economy from collapsing while Obama presides over a surging economy

 

[Old Rocks]

And our economy looks very strong for the next two year period, while, by Putin's own admission, that of Russia looks very bleak. A definate win for our President. A loss for Putin and his 'Conservative' admirers in this nation.

 

[Votto]

Russia s ruble currency slides to new dollar low

The Russian ruble currency declined sharply against the dollar on Tuesday despite an aggressive intervention just hours earlier by Russia's Central Bank to halt the slide by hiking its benchmark interest rate to 17%.
The ruble fell to a new low of 73 against the dollar on Tuesday.

I'm no economist but my guess is that this all has to do with falling oil prices.

In fact, if it were not for Putin being such an SOB, my guess is that gas prices would still be where they were.