Just last week, Russia's currency, the ruble, fell sharply in value by almost 20%. This drastic event sent Russia's central banks into chaos as they consistently increased interest rates to try to rebalance the ruble. On Thursday, Putin declared that the ruble has reached its highest value in three weeks and is stable again. Unfortunately, economists warn that the fall and subsequent recovery of the ruble is not going to pass without adverse effects, both for Russia and for the global economy. Russia, which has already had a rough year economically, now is forced to withstand the threat of an impending recession. Other regions of the world will also have to be wary of the impact of the ruble dilemma.