Russia cools off red-hot ruble rally ...News

Russia Today - Economy
Russia cools off red-hot ruble rally
source : Russia Today ( News ) () 11
The currency retreated following the easing of capital controls and a rate cut by the central bank The Russian ruble weakened to a two-week low on Thursday following an extraordinary meeting of the central bank at which the key interest rate was slashed three percentage points to 11%. The regulator suggested that more cuts would follow as inflation risks subside. The ruble slid to 65 against the dollar, after reaching a four-year high of 56 on Wednesday. The Russian currency lost 14% to trade at 68 versus the euro, also a two-week low, after having touched a seven-year high of 57 in the previous session. The ruble

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