Apple says it will not be able to sell its products in
Russia as the Ruble is too weak and too fickle to let the company put a stable
price tag to its products.
The federal bank raised the interest to 17% from the
existing 10.5% this week. But that decision could not save the currency to
slide 20% in no time. Ruble fell 5% on the Wednesday morning and started
selling 71 to 1 in comparison to the US Dollar.
The prices of Apple products were raised 20% in the country
last month because the emaciated Ruble made products less costly in Russia than
other European countries.
The Federal Bank has said that it has infused 2 billion USD
in the market to let the Ruble come up a little. And till now the country has
spent around 80 billion USD for the same purpose. But no visible signs of a
revival have come to the fore.
Experts are of the opinion that the main reasons for the
tattered Ruble are the steep decline in the prices of the crude oil and the
sanctions that the European countries have imposed on Russia.
Due to its support to the Ukrainian separatists, the fear of
further American sanctions on the country has drubbed the Ruble to ashes this
week.
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