Items tagged with ruble

Russia has a ruble problem and it doesn't appear to be getting any better. Since the start of 2014, the ruble has lost 57 percent of its value versus the U.S. dollar, and the Bank of Russia has raised interest rates from 10.5 percent to 17 percent according to CNN Money. Apple has a presence in Russia via its online store, and the falling ruble has also had affect on its business operations. "Due to extreme fluctuations in the value of the ruble, our online store in Russia is currently unavailable while we review pricing,” said Apple in a statement last week. “We apologize to customers for any inconvenience.” The closure of Apple’s Russian store was short-lived, and it is now back online. However,... Read more...