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Russia’s Central Bank hiked interest rates from 8.5% to 12% on Tuesday in an emergency meeting after the ruble slid past 100 against the U.S. dollar the day before. “The decision is aimed at limiting price stability risks,” the Bank said in a statement.
Russia's central bank on Tuesday increased its benchmark interest rate in an emergency move to try and halt the ruble's recent slide, which...
Currency trades at 101.01 to the greenback.
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The extraordinary rate meeting came after the ruble plummeted past the 100 threshold against the dollar on Monday
The Russian currency passed 101 rubles to the dollar on Monday, losing more than a third of its value since the beginning of the year.