Russia's rouble steadies on Thursday after Vladimir Putin speaks out
The Russian rouble made small gains against the dollar on Thursday following a carefully worded speech from Russian President Vladimir Putin.
Putin insisted that even if the financial crisis lasts for two years, the economy will eventually rebound, while blaming the decline on external factors.
The currency steadied itself at around 61 versus the US dollar as he sought to reassure the public that Russia is taking all appropriate actions required to remedy the current situation, according to The Wall Street Journal.
He said the central bank’s actions had been “on the whole appropriate,” but lamented that “some things could have been done more urgently”.