Tue, 30 Dec 2014 13:42:03 GMT
Ruble faces biggest annual drop since 1998 as government fails to support the currency
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