Ruble emerges as biggest loser in BIS rankings

Offshore trading is slowly picking up, but remains half as much as pre-Crimea levels

Ruble slides from 12th place in 2013 to 18th in the latest BIS survey

One of the biggest losers emerging from the Bank for International Settlements' (BIS) 2016 survey of foreign exchange markets is the Russian currency. According to the latest results, the ruble slipped to 18th place in the currency pecking order, down from 12th place in 2013, notching up the steepest slide in rankings.

The fall from grace is a big turnaround for the ruble, which between 2010 and 2013 went from average daily volumes of $0.9 billion and a ranking of 16th to $1.6 billion of

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