Putin’s Land Grab Undermines Global Ambition for Ruble
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President Vladimir Putin’s ambition to make the Russian ruble a global reserve currency is being undermined by his thirst for territorial dominance.
The CHART OF THE DAY shows that the ruble’s share of the international payments system declined the most among major emerging-market currencies in the 12 months through May while the Chinese yuan had the biggest increase. The ruble slipped four places to No. 18 in global usage, according to a ranking compiled by the Society for Worldwide Interbank Financial Telecommunication, or SWIFT.