Monday 12 January 2015

BBC News - Russia reveals huge cost of supporting the rouble

BBC News - Russia reveals huge cost of supporting the rouble:



"The Russian central bank has revealed the huge cost of trying to prop up the value of the rouble.



In the past year, the bank spent $76bn and 5.4bn euros as it repeatedly bought roubles on the foreign exchanges.



The Russian currency has been under sustained pressure because of Western sanctions over Ukraine and because of the falling price of oil."



'via Blog this'

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