Courtesy of Mish.
As oil continues to slide so does the Ruble. Emerging market currencies have gone on for the ride as have the currencies of Eastern European countries, especially Ukraine. The Russian Ruble, Turkish Lira, and Ukrainian Hryvnia are at or near record lows.
Russian Ruble – RUB
Since the beginning of the year, the Ruble has gone from 32.99-per-US$ to 65.51-per-US$. That’s a decline of 49.64%.
Ukrainian Hryvnia – UAH
Since the beginning of the year the Hryvnia has gone from 8.21-per-US$ to 15.75-per-US$. That’s a decline of 47.87%.
Turkish Lira – TRY
Since the beginning of the year, the Lira has gone from 2.15-per-US$ to 2.37-per-US$. That’s a relatively modest decline of 10.23%. However, the lira slide since the beginning of 2013 (not shown on chart) is 25.74%.
Traders Pressure Russian Central Bank
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