Russian Ruble Eases From 10-day High Against U.S. Dollar After Putin's Speech
December 18 2014 - 6:24AM
RTTF2
The Russian Ruble trimmed its early gains against the U.S.
dollar in European deals on Thursday, as the Russian President
Vladimir Putin did not provide no major measures to address the
currency's collapse.
In a televised media conference, Putin blamed external factors
such as collapsing oil prices and western economic sanctions for
the ruble's decline and said the economic crisis could last two
years.
Regarding the Central Bank of Russia's decision to step in
yesterday to sell foreign currency reserves to arrest the ruble's
collapse, Putin said that the central bank was right to act, but
that it should probably have done so earlier. "I would not call the
situation a crisis, you may call it whatever you want," he
added.
The ruble was trading at 60.98 against the greenback, off early
10-day high of 55.07. The pair ended yesterday's trading at
61.29.
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