Russian ruble becomes the weakest currency in the world

16 December 2014 13:01
(QHA) -

The Russian ruble has become the weakest currency in the world. On 15, December the ruble became so weak, that it appeared to be the leader of the fall among the world currencies this year, reports RBC.

After this collapse, the cumulative depreciation of the ruble since the beginning of the year is almost 48%. Until December 15th the rate of ruble devaluation yielded only to Ukrainian hryvnia, which has lost 46% of its value since the beginning of this year.

The auctions closed at around 64,45 roubles/USD  and 78.87 rubles/EUR on Monday.

The Russian Central Bank has already spent $ 6 billion to rescue the ruble just for the first half of December. A month earlier, in October, it spent another $ 27 billion. The Central Bank sold more currency only during the financial crisis in 2008.