Ruble turns to rubble

  • The Russian ruble has tumbled 29.5% against the dollar in the last two weeks alone

  • The Ukrainian hryvnia is fairing significantly better, limiting its fall to only 6.2% during the same period

  • We forecast the price to fall to 0.0059 (169 rubles to a dollar) in the coming months – a further drop of 37.9%
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