Russia tries to stem panic over the plummeting ruble, as the central bank is forced to intervene
2024-11-26 09:01:54 source：CNBC
November 26, 2024
Russian authorities are trying to stem panic over the ruble's sharp fall this week, with the central bank forced to intervene on Wednesday to support the currency.
The ruble weakened to 114 against the greenback on Wednesday, hitting its lowest level since March 2022, shortly after Russia invaded Ukraine.
Russia's central bank (CBR) was forced to intervene on the day to prop up the ruble, saying it would halt foreign purchases on the domestic currency market for the rest of the year "in order to reduce the volatility of financial markets."
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