MOSCOW (AP) — The Russian government looked at ways of easing the selling pressure on the ruble Wednesday amid fears the country may face a full-blown bank run and as consumers look to buy big-ticket items before prices rise.
Deputy Finance Minister Alexei Moiseyev was quoted by the Interfax news agency as saying that the government is going to sell foreign currency “as much as necessary and as long as necessary.”
The ruble has suffered catastrophic losses this week as traders fretted over the impact of low oil prices on the Russian economy as well as the impact of Western sanctions imposed …read more
Source: San Francisco Chronicle
