Posts Tagged ‘Crimea’

How does the Crimea situation impact on currencies?

Tuesday, March 18th, 2014

Russiand and Ukrainian flag from CrimeaAll eyes are on the continuing developments in the Balkan region of the world.

As was expected, the so-called referendum in Crimea is said to have reported that ninety-seven per cent of ethnic Russians wish to secede from Ukraine and join the Russian Federation.

This has caused a massive ripple effect in the currency markets as of late. With both the European Union and the United States threatening very real sanctions, currency traders are already closely watching the value of the ruble in relation to its other major currency counterparts.