Video: What's Next for Russia's Ruble?

Falling oil prices and geopolitical instability have resulted in steep falls for the ruble. The central bank's dramatic rate hike hasn't had the desired effect of halting the ruble's free fall. So what's next?

Russian policymakers have to walk a very fine line now. Having failed to attract investors into the country with very high interest rates, they could now clamp down on investors leaving. But that could have a devastating effect on Russia's relationship with the finanancial markets and the rest of the world. The Wall Street Journal's Charles Forelle explains how we got here and what Russia might do next.