With low oil prices and EU sanctions hitting the Russian economy hard, the
country’s currency the rouble tumbled to a record low against the U.S.
dollar on Tuesday. Interventions by Moscow, including a steep hike in
interest rates, have led to a slight recovery on Wednesday, though trading
was still described as volatile. Given that some 4 percent of the Czech
Republic’s exports go to Russia, what impact could the rouble’s
problems have on the Czech economy? That’s a question I put to David
Marek, chief economist at the Czech branch of