MercoPress. South Atlantic News Agency
Russian ruble suffers its biggest one day skid since 1998
The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention. Read full article
Comments
Disclaimer & comment rulesQuick take your shirt off Vlad and shoot something to distract your brainwashed population.
Dec 03rd, 2014 - 09:55 am - Link - Report abuse 0The perils of building your economy largely on the back of a single product that has numerous other larger suppliers...
Dec 03rd, 2014 - 10:39 am - Link - Report abuse 0Chile has (despite their best efforts to diversify) the potential of a similar situation if the copper price were to fall. However barring another global economic meltdown (i.e. no-one manufacturing or building) it's not likely to be a catastrophic fall as it's too useful a material and while Chile doesn't produce most of the world's copper, it's not too far off (37% of global production).
@2
Dec 03rd, 2014 - 11:48 am - Link - Report abuse 0You should read Alex Salmond's Scottish Independence manifesto, it could have been written by Putin. There was nothing he wasn't going to buy and finance with the high North Sea Oil priced revenue, his whole social spend budget depended on it. They would be shitting their pants up there now if the vote had gone a different way, begging on their knees for the UK to buy their oil.
Fortunately for Scotland they can now watch what happens in Russia from the safe distance in a secure country with a strong currency and diverse economy.
Oh yes, do we all remember just a few months ago how Tichty-Tiny Putin was dismissive of the attempts to blockade his country?
Dec 03rd, 2014 - 12:43 pm - Link - Report abuse 0He even LAUGHED at it on one interview I saw, but he’s crawling on all fours now to get it lifted.
Fuck him and his mafia.
Seems like no 1 enemy to the security of the Russian Federation is none other than the KSA.
Dec 03rd, 2014 - 11:02 pm - Link - Report abuse 0The Saudis fund the islamic terrorists of the Caucasus and now they are dumping oil to the markets and making the Russian economy crumble at its feet.
Looks like Cristina's “saviour” is looking the other way now... T'was only a minor flirtation to annoy the Brits/EU/NATO.
Dec 04th, 2014 - 12:45 am - Link - Report abuse 0I think he has just lost interest in the travails of a minor South American country that can hardly benefit Russia in any substantial way.
Sorry Crissie, “ I guess he's just not that into you...”
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