A Fast Fall for the Russian Ruble
SeekingAlpha.com (Free subscription) | yesterday
Ray Hendon submits: The Russian ruble has dropped about 2.5% a month since August, despite being heavily supported by the Bank of Russia. The cause is, of course, the fall in oil prices. About three quarters of Russia’s exports are related to oil, and the revenue generated by oil sales funds much of the government’s budget. They need oil at about $70 a barrel to pay their bills. The chart below...















