As Russia's currency went from the world's worst performer to the best in the first three months of this year, it caught out even the most accurate forecasters. Oil's drop to near a six-year low and cuts in interest rates, previous indicators of a weakening ruble, were swept aside as the cease-fire in Ukraine became the bigger determinant.
Bloomberg: Ruble whipsaws top forecasters as worst currency becomes best
People prepare a sled in the form of the Russian ruble during the Winter Sledge festival in St. Petersburg, on Feb. 1, 2015.
