|Ruble Rout Accelerates as Russia's Central Bank Stands Aside|
Reuters reports in the Moscow Times November 6, 2014:
The Russian currency plunged almost 4 percent against the U.S. dollar Thursday amid relentless selling pressure after the Central Bank announced it was limiting market interventions to defend the ruble.
The ruble dropped to 46.7 versus the dollar early evening in Moscow, a historical low, while also falling below the mark of 58 to the euro for the first time ever.
The declines mean the ruble has fallen over 40 percent against the greenback since the start of the year.
Read more here.
- Countrywide Mortgage Devastation Lingers as Ex-Chief Moves On
- Economics Has Failed America
- For Bill Gross, Besting Pimco Is the Best Revenge
- SocGen claims China is only months away from burning through its currency reserves
- George Soros says the EU is ‘on the verge of collapse’
- Cooperman: Why this is no bear market yet
- Michael Burry, Real-Life Market Genius From The Big Short, Thinks Another Financial Crisis Is Looming
- Chinese Legislature Approves Two-Child Policy
- Bill Gross' Math on Junk Bonds Is Right
- PAUL SINGER: Developed countries are hopelessly and utterly insolvent
- U.S. household incomes slip, poverty rate holds in 2014
- St Louis Fed official: No evidence QE boosted economy
- 2015: Why's the Oil Price Collapsing? Answer: $8+ Trillion Carry Trade
- GUNDLACH: The Consensus Is Wrong — Interest Rates Could Sink To Levels We Haven't Seen In Decades
- Ruble Rout Accelerates as Russia's Central Bank Stands Aside