Moscow (AFP) – The ruble sank Friday to fresh record lows as oil prices plunged further, prompting apparent intervention from Russia’s central bank.The Russian currency weakened to 72.14 against the euro and 57.98 against the dollar, before trading in the greenback suddenly jumped — in what appeared to be action by the central bank to halt the ruble’s haemorrhage.”The ruble’s fall continued Friday morning…. After this followed a new intervention from central bank, it pushed the ruble rate down,” said Alexei Mikheyev, an analyst at VTB-24 bank.The effect was shortlived, however.”About 80 percent of the fall in the dollar-ruble rate …read more
Source: Business Insider
