Goodbye Ruble Tuesday

24 May

Last night Natsionalnyi Bank Respubliki Belarus announced it had re(de)valued it’s controlled  exchange rate to 4,930/USD from 3,155/USD on their ruble starting at today’s fix.

Probably the best thing for them long run, as grey market currency trading had taken over for official rates since it was so far off base. However it made for one hell of an ugly chart.

BYRUSD year to date

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One Response to “Goodbye Ruble Tuesday”

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  1. Morning News: May 25, 2011 | Crossing Wall Street - May 25, 2011

    […] Stone Street: Goodbye Ruble Tuesday […]

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