Popular News From Popular Sites: As concerns grow over falling ruble, Russia moves to float currency, takes aim at speculators

Monday, November 10, 2014

As concerns grow over falling ruble, Russia moves to float currency, takes aim at speculators

People cross a street next to a display with exchange rates in downtown Moscow on Monday, Nov. 10, 2014, showing the rate against the dollar, (top) and the euro (bottom). Russia's Central Bank on Monday scrapped its daily controls on the value of the ruble, allowing the battered currency to float freely in financial markets earlier than planned. The bank, which had planned to let the ruble trade freely starting next year, made the move as the currency has come under sustained pressure in the face of Western sanctions over Ukraine and plummeting oil prices. The ruble has lost nearly half its value against the dollar this year. (AP Photo/Pavel Golovkin) MOSCOW - As an acrobat in one of Moscow's circuses, Yuri Friyuk is an expert at gyrating without falling on his face. Lately, he's worried about whether the rubles he's paid with can be as deft.




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