NLXSK1
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Russian Central Bank Raises Key Rate to 17% from 10.5%
Russia's Central Bank, in a bid to stem a sharp decline in the ruble, raised its key interest rate to 17% from 10.5%.
Earlier Monday, Russia's currency lost more than one-tenth of its value, collapsing to a record low and raising fears that the Kremlin wouldn't be able to stop the slide as the price for oil, its main export, also continued to fall.
Russia's Central Bank, in a bid to stem a sharp decline in the ruble, raised its key interest rate to 17% from 10.5%.
Earlier Monday, Russia's currency lost more than one-tenth of its value, collapsing to a record low and raising fears that the Kremlin wouldn't be able to stop the slide as the price for oil, its main export, also continued to fall.