Russia's central bank took a cue from the ECB - saying it will "do all it takes" to keep the rouble afloat. The comment immediately relieved the pressure on the beleaguered currency. .
Emerging market economies and their currencies have come under severe stress in recent weeks, as rising US interest rates and trade fears prompt investors worldwide to shun their assets and move money to the US.
Facing the harsh realities of global markets, Buenos Aires and Ankara have taken different paths to drive their domestic agendas. But, as global contagion fears recede, will Turkey follow Argentina and take its medicine?
Tumbling emerging market currencies, including the Russian ruble, have caused Moscow to publicly wish for the "demise" of the greenback from global finance. Lars Halter examines how realistic such a wish actually is.
Neighboring giants Russia and China plan to use their own currencies more often in trade deals as relations with the West decline. The Russian president indulged in pancake diplomacy with his Chinese counterpart.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version