Economic Pain: Russian Central Bank Defends the Ruble

Posted on 10/17/2014


The Central Bank of Russia publicly commented that it had conducted 72.43 billion rubles (US$ 1.8 billion) worth of foreign exchange interventions on October 15, 2014. The mission was to defend the ruble’s value. In recent times, the value of Russia’s currency against the U.S. dollar has dropped due to the geopolitical crisis in Ukraine, […]