Moscow urged the Russian public not to panic Tuesday, as its battered currency, the ruble, plunged to an all-time low against the U.S. dollar.
The national currency fell below 38 rubles per dollar amid investor worries about the impact of new Western sanctions aimed at punishing Moscow for its role in the Ukraine crisis.
Deputy Russian Finance Minister Alexei Moiseyev attributed the fall to European and U.S. moves to deny Russian banks access to long-term borrowing markets in the West. Addressing reporters, Moiseyev urged calm and said talks are under way with Russia’s central bank to ease the crisis.
Analysts say ordinary Russians …read more
Source: Voice of America
