Russia's currency made news today for having its biggest two-day decline versus the dollar in a decade. For those interested, below we provide a long-term chart of the Russian Ruble versus the US Dollar. As shown, the amount of rubles that one dollar will get you has spiked significantly in recent months, going from about 23 rubles per dollar last May to its current level of 34.84 rubles per dollar. And the decline in the currency has run in tandem with the decline in Russian equities. In the bottom chart, we highlight the decline that Russia's RTS equity index has seen from its peak. As other countries around the world have rebounded slightly since the start of the year, Russia has recently made new lows. Since last May, Russia's main equity index has now fallen 78.6%.
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