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Russia rouble moves weighs on regional currencies

Posted on 06 January 2009

From Forbes: The quickening pace of Russia’s rouble devaluation is piling pressure on the currencies of its neighbours and putting those without Moscow’s sizeable reserves at risk of foreign debt default and further capital flight.

Investors are in any case shying away from currencies such as Ukraine’s hryvnia as the world economic slowdown crushes demand for its exports, global risk aversion shines a harsh light on Kiev’s turbulent politics and Russia demonstrates its stranglehold on the country’s energy supplies….. Full Article: Source


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