Markets

Russian ruble bounces back after dramatic interest rate hike

Published December 16, 2014 Updated December 16, 2014 07:59am

1 min

By Parvez Jabri

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MOSCOW: 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.

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