Russia’s continuing weakness could cost the country its membership in one of the most identifiable and esteemed investor acronyms – the BRIC nations.

The Russian ruble fell yesterday (Monday) to levels not seen since the 1998 banking crisis, as the nation’s central bank devalued the currency for the sixth time in seven days. The devaluation is seen as a sign of further deterioration in the Russian economy and comes despite government efforts to orchestrate an orderly retreat.