Wall Street Journal (November 3)
2014/ 11/ 04 by jd in Global News
“Moscow may have a currency crisis on its hands.” For the year the ruble has sunk 22% against the dollar, trailing only “Argentina as the biggest emerging-market currency loser.” Though the faltering Russian economy could benefit from lower interest rates, “the Bank of Russia raised its benchmark interest rate to 9.5% from 8% on Friday in an attempt to stop a run on the ruble and stem inflation, but the ruble kept falling even after the rate hike.”
Tags: Argentina, Benchmark, Currency crisis, Dollar, Economy, Emerging markets, Inflation, Interest rates, Moscow, Ruble, Russia
