It’s absolutely stunning how biased the US financial media is against the Russian economy. We would like to take this opportunity to speak the truth about the Russian economy and currency. Monday, December 15th, the Russian Ruble lost 16.04% of its purchasing power in a single day – with the USD/RUB exchange rate rising 10.55 to close at 65.79, which equaled a new all-time low for the Ruble vs. the US Dollar.
Then on Tuesday, December 16th, the Ruble lost another 17.87% of its purchasing power – with the USD/RUB exchange rate rising an additional 14.31 to a peak of 80.1. The Ruble finally bottomed after losing 31% of its purchasing power against the US Dollar in two trading days.
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