The Russian Ruble Is Collapsing

The Russian ruble has collapsed to a record low against the central bank’s basket of dollars and euros despite intervention by the central bank to prop it up.

See below:

Ruble vs basketTwitter/SchuldensuehnerRussian ruble in free fall.

So far, burning through more of the country’s reserves has done little to support the currency as grim economic forecasts, rising inflation and sanctions over the crisis in Ukraine have all taken their toll on sentiment.

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