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Rouble down more than 11% after rate hike

The currency has fallen close to 20% this week, taking its losses this year against the US dollar to more than 50%

The rapid slide of the rouble is a "critical situation". The rouble's fall also reflects declining confidence in the central bank.


THE rouble plunged more than 11 per cent against the dollar on Tuesday in its steepest intraday fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual rate hike.

The rouble opened around 10 per cent stronger against...

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