Ahead of an annual press conference by Russian President Vladimir Putin on December 18, the ruble was trading well above the record lows it hit earlier this week. The government has spent billions of dollars from its hard currency reserves and on December 17 vowed further intervention to strengthen the ruble, which has lost nearly half its value against the dollar this year and hit a low of about 80 to the dollar on December 16.
Russia's War Against Ukraine
Radio Free Europe/Radio Liberty: Ruble gains ahead of Putin press conference
A police officer guards the entrance to the head office of the Central Bank in Moscow on December 17, 2014.
