The ruble is getting slammed again after S&P cut Russia to junk. The currency fell over 7% to over 68 to the dollar after the S&P cut Russia’s credit rating to BB+. All ratings below ‘BBB-‘ are considered “junk” as they are below the lowest investment grade rating. And earlier in the day, the ruble closed around 66.3, which was the biggest decline for the ruble in over two weeks. The currency’s drop earlier today followed the escalation of violence in Ukraine over the weekend in the city of Mariupol. Over the weekend when Russian-backed rebels launched an …read more
Source: Business Insider
