LONDON (Reuters) – Oil’s sharp price decline is a boon for major oil-consuming nations at a time of renewed economic concerns while a headache for oil producers.
Yet its impact differs significantly country by country, determined to a large extent by foreign exchange policies.
LONDON, Oct 9 (Reuters) – Sanctions-hit Russia has lost
around a tenth of hard currency reserves so far this year in
dollar terms, bucking a generally rising trend across most
Developing economies that spent billions of dollars last
year to support their currencies are being forced to do so again
in recent weeks as the dollar rises on expectations of higher
U.S. interest rates from mid-2015.