This is what's happened to the Russian rouble

Russia's currency, the rouble, is in freefall - presenting severe implications for the country's economic and political systems.

Despite the country's central bank raising interest rates to 17 per cent yesterday, the price of the currency has plummeted and the country is at threat of being plunged into deep recession.

This below chart shows the rouble's decline in value, compared to the US dollar, over the past 12 months. One rouble on 17 December 2013 would have bought you $0.030, today it will buy you just $0.015 - its price has effectively halved.

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