Russian rouble turns to rubble: A wild ride for the Russian Rouble overnight with the currency swinging wildly throughout the course of European and North...
Russian rouble turns to rubble: A wild ride for the Russian Rouble overnight with the currency swinging wildly throughout the course of European and North American trade. Having opened at 60.907 to the USD, a sharp appreciation on the 65.8975 closing level of Monday, the currency slid to 79.9125 midway through the European session before clawing its way back to 67.815, something that coincided with a recovery in crude prices. Putting the move into perspective the overnight range was the largest in history and was the fourth-largest intraday percentage range since 1996, superseded only by three dates during the currency crisis of September 1998. (VIEW LINK)