Topic: Ruble Tumbles Most Since 1998 as Traders Pressure Central Bank
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Who's an idiot, gumbi ?


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Heh heh


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Result of sanctions?


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. said: Result of sanctions?

Mostly result of collapse of oil prices.


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The Russian central bank raised its key interest rate to 17 percent from 10.5 percent, in a move it said was aimed at curbing increased devaluation and inflationary risks.

Sales of oil and gas are Russia's chief source of export revenue, while tougher U.S. sanctions on Moscow, which were set out in a bill passed by U.S. Congress Friday, added to Russia's economic woes.

The ruble RUB=EBS weakened beyond 60 rubles per dollar, after rising above 67.00 at one point on Monday when oil prices fell sharply. The dollar was last up 13.2 percent against the rouble to trade at 65.9 rubles per dollar.
"The bottom line is that oil prices have to stabilize for the rouble to find a bottom but this move is what the central bank should be doing," said Jorge Mariscal, chief investment officer for emerging markets at UBS Wealth Management in New York.­

http://mobile.reuters.com/article/idUSKBN0JT01G20141215


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What can you buy with 60 rubles in St. Petersburg?


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What can you buy with 60 rubles in St. Petersburg?   NE1KNOA?



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