MOSCOW — Russia’s embattled ruble extended a week of catastrophic losses by dropping 4 percent at the opening of trading in Moscow.The world’s worst-performing currency along with the Ukrainian hryvnia, the ruble has lost more than 50 percent of its value this year. It traded at 70.7 per dollar Wednesday morning, or 4 percent lower than at the closing on Tuesday.The ruble lost over 15 percent of its value this week despite Tuesday’s massive interest rate hike by the Russian central bank. …read more
Source: Boston Herald
