Don’t miss the latest developments in business and finance.

Why currency crises are rarely solved by rate hikes

Why currency crises are rarely solved by rate hikes

Last Updated: Dec 18 2014 | 7:46 PM IST

Russia's central bank has failed to shore up the ruble, despite ramping up rates to 17%. Tom Mackenzie takes a look back at other examples of countries that raised rates to bolster their currencies, and the fallout from those decisions. (Source: Bloomberg)