Thursday, 21 January 2016

The ruble tumbles


The ruble dropped to an almost historic low today, falling past 80 rubles to the US dollar.

This is very, very serious. No wonder a Russian presidential adviser finally had to blurt it out: Russia’s Central Bank should support the national currency - and they are doing nothing. When the Central Bank interprets at its sole discretion the instruction not to "waste" the reserves and just quits the market on its own accord, "that is cause for surprise, or make the whole world laugh."

This reflects the fight to the death at the highest echelons in Moscow - pitting the Kremlin against the Russian Central Bank. There is a solid case to be made the Russian Central Bank is controlled/infiltrated by a Fifth Column working for the Atlanticist gang, and not for the interests of the Russian Federation

---Pepe Escobar

Ruble sets new historic low against US dollar

U.S. dollars and Russian rubles. © Vladimir Sergeev

The Russian ruble hit a historic low against the US dollar during Wednesday's trading on the Moscow exchange. The currency fell below 80.10 rubles to the dollar, the previous low of 16 December 2014, dubbed Black Tuesday.

The euro also gained on the Russian currency, trading at over 88 rubles, but below Black Tuesday's 100 mark.

Ruble weakens beyond 80.1 per Dollar, records fresh historic low as oil trades below $28/bbl.

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