Frankfurt – Despite a dramatic increase in interest rates in Russia the currency of the country continues to fall. The nervousness due to the ruble crash and the oil price decline has also affected the German stock market. By the afternoon, the price moved up and down frantically.
The Dax was temporarily in negative territory, but recovered in the evening. The MDax of medium-sized businesses and the technology index TecDax also lost at times.
Especially stocks of companies with a significant financial stake in Russia fell on the German stock exchange under pressure. In the major indices stockbrokers call especially the sporting goods manufacturer Adidas 
and the trading company Metro but also Stada as the values that have been disadvantaged by the decline of the Russian currency.
For additional uncertainty caused the upcoming Wednesday rate decision US Federal Reserve and the eye-catching variations before the big decline in futures markets on Friday -. the so-called witches’ sabbath
Russia’s central bank wanted to stop in on Monday night with a huge interest rate move the decline of the ruble by its key interest rate increased by 6.5 points to 17 percent. But the effect of the drastic measure is dissipated.
fear of sovereign default
The Russian currency lost on Tuesday between time dramatically in value. You got to trading session for a euro still close to 82 rubles, it was during the day already about 100. In the evening we were finally back about 85 rubles.
The crash of the ruble also has the downturn in the Moscow stock market continues accelerated and pushed the stock index RTS to a new low for the year: At times he broke on Tuesday by almost 15 percent, after the market close in Moscow, he was about twelve percent in the red at about 630 points after a day’s low of 578 points
Prime Minister Dmitry Medvedev convened a crisis meeting in the Kremlin. According to the Russian economy minister Alexei Ulyukayev while capital controls were not an issue. With these controls, the Russian state would intervene massively in the foreign exchange market and prevent the outflow of capital.
Despite the multibillion-dollar intervention by the central bank, the local currency has already lost 50 percent of its value against the dollar this year. The country is now expected to use up its foreign exchange reserves to stabilize the currency visibly
Russians stormed shops
For the Russian population of the ruble crash has dramatic consequences.: Fearing a further decline in value many Russians storm in electronic markets, furniture shops or even car dealerships where they want to get rid of their savings.
Also, shopping centers experience a rush. An example is the Swedish furniture chain Ikea, prior to their department stores in the past few days with long queues. Several hours had to wait for the customers before they could enter. The reason is that Ikea had announced in early December, shortly to raise prices because of the decline of the ruble
However, there were no warning from Apple.. The Group had the end of November from one day to his raised prices: iPhones, iPads and MacBooks prices rose by an average of more than 20 percent.
The retail chain for M Video Appliances and Electronics counted in early December more customers. This was partly due to the Christmas shopping, on the other, on the descent of the ruble
The households suffer from the crash of the currency, which has since the beginning lost more than a third of its value against the euro. – which is partly due to Western sanctions for Ukraine crisis and oil prices falling. Due to the currency devaluation prices for Russian consumers have increased significantly, so that the Central Bank assumes an inflation rate of about ten percent for the year.
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