Ruble faces biggest annual drop since 1998 as government fails to support the currency

Source: Bloomberg
© Scanpix/Reuters
The Russian ruble got closer to the worst annual decline since 1998 as government interventions suffered a setback in strengthening its currency. This year the Ruble was the worst performing currency, losing 42% of its value, due to Western sanctions and low oil prices, which pushed Russia's economy into recession. Government bonds weakened a lot in emerging markets, with the Micex Index sliding for the first time in three years.
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