The rouble and oil prices

The rouble and oil prices

The rouble and oil prices

In the second half of 2014, the rouble fell in tandem with oil prices, losing over half of its value. Interventions by the Russian Central Bank (US$30 billion spent on propping up the rouble in October; an interest rate hike of 6.5% to 17% in December, later eased to 15%) failed to halt the currency’s downward slide for more than a few days.


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