On Thursday, the Russian ruble reversed its recent trend of breaking record lows against the dollar and the euro and came surging back. Rumors quickly circulated about the cause of the unexpected rally. Here’s what we know so far: After falling to yet another record low in early trading, the ruble suddenly began regaining lost ground from around 6 a.m. ET. The first thing to note here is that over the past week the volume of trading in ruble markets has fallen off sharply. As Reuters’ Eric Burroughs (who provided the chart below) said on Twitter, this …read more
Source: Business Insider
