The Russian ruble has dropped to its lowest point in 16 years -- and has been in free-fall for some time as this chart shows.
Russian Ruble Slides Again Despite Rate Hike Russia Raises Key Rate to Protect Ailing EconomyThe ruble, or the rouble, fell 20 percent today, its biggest intra-day fall since 1998, the time of the Russian financial crisis.
Overnight, the country's central bank raised its benchmark interest rate to try to slow the ruble's slide to no avail.