MOSCOW (AP) – Russias central bank has raised its main interest rate by more than anticipated as it tries to stem the rubles fall.The bank on Friday lifted its main rate from 8 percent to 9.5 percent in a move reflecting the banks concern over the plummeting currency. The ruble fell to an all-time dollar low of 43.4 earlier this week, but has recovered somewhat trading at around 42 rubles.The bank has been quickly eating through its hard currency reserves, spending billions of dollars to support the ruble.Since March, it has raised the rate from 5.5 percent, but the currency …read more
Source: Dunya TV
