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16/12/2014 Putin's Russia goes through its worst economic turbulence

The Central Bank of Russia increased its key interest rate from 10.5% to 17% as it tried to slow or stop the decline of the ruble. But even after this intervention, the ruble declined further. At one point, it took 79 rubles to purchase one U.S. dollar, while in January it took only 33.

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  • Essentials 

  • Causes 

  • Russian monetary policy 

  • Financial, economic, and social impact