Russia’s ruble opened 2019 at three year low against the dollar

Russia’s ruble opened 2019 at three year low against the dollar
Russia’s ruble opened 2019 at three year lows against the dollar before paring losses at below 70 rubles
By bne IntelliNews January 7, 2019

Russia’s ruble opened 2019 at a three year low against the dollar before paring losses at below 70 rubles.

In 2018, the Russian currency lost 21.1% of its value against the dollar and 15.5% versus the euro.

The central bank let the ruble float freely in 2014 after unsuccessfully burning through substantial foreign currency reserves in a doomed effort to buttress its value.

A monthly Reuters poll predicted that in 2019 the ruble would stand at 66.85 versus the dollar and at 76.50 against the euro.

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