The slide in the value of the Rouble reveals weaknesses in the Russian economy. However, it is unclear whether such difficulties will loosen President’s Putin’s grip on power. In recent weeks, President Vladmir Putin has made two big speeches in December: one annual address to the Federal Assembly on 4 December and one annual press conference on the 18 December. Even between the two, a worsening currency situation deteriorated rapidly. On 15 December alone, Russia’s Central Bank said it had made $1.961 billion worth of foreign exchange market interventions. That day constituted black Monday, where the Rouble lost almost 19% …read more
Source: Royal United Services Institute