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Markets

Russian ruble bounces back after dramatic interest rate hike

Published Updated

imageMOSCOW: The ruble bounced back on Tuesday, rising four percent at opening after it had plunged to a record low the day before in the wake of a dramatic hike in interest rates by Russia's central bank.

The ruble suffered a mini-crash on Monday, sliding 9.5 percent in a single day despite repeated interventions by the central bank.

Copyright AFP (Agence France-Presse), 2014

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