Mises Wire
Author:
Carmen Elena Dorobăț
Online Publish Date:
In January 2014, 33 Russian rubles exchanged for one US dollar. In December 2014, the amount has more than doubled, reaching 77.2 rubles per dollar on December 16 th , a day some dubbed Russia’s Black Tuesday . Russian central bankers raised interest rates by 6.5% overnight, and spent $2 billion to stave off the depreciation. In total, propping up