MOSCOW (AP) — Russia’s central bank has made another move to shore up the ruble, offering hard currency loans to help companies and banks service their debts.
The bank said Wednesday it would accept foreign currency debt obligations as collateral against the loans. The hope is that it will provide relief to those who can’t tap foreign capital markets to refinance loans because of Western sanctions.
The move is the latest in a series of efforts by the Central Bank to ease the selling pressure on the ruble, which has been one of the world’s worst-performing currencies this year as a result …read more
Source: KXAN
