The Ruble Romping

By Derek Hunter

A year ago one U.S. Dollar would buy you thirty-three Russian Rubles; today you can get sixty-six Russian Rubles for your Dollar. There has been many contributing factors to Russia’s economic woes in 2014 and early 2015 -- some self-inflicted and some out of its control. But recently investors have questioned the independence of the Bank of Russia, as its interest rates seem to rise and fall with the political winds, i.e., the demands of oligarchs and Putin’s inner circle.

The Wall Street Journal discusses international investors lack of confidence in the Bank of Russia, and the consequences for the Ruble.