“The ruble is severely affected by the risk-off environment that reflects concerns about the EU sovereign debt crisis,” Benoit Anne, head of emerging-markets strategy at Societe Generale, told Bloomberg. “It’s also poorly positioned as a commodity-related currency, given the serious mark-down in the global growth outlook.”
Market Vectors Russia
Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.
Tisha Guerrero contributed to this article.