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Ruble Plunges to New Lows Despite Rate Hike

The ruble has tumbled to another historic low, despite an emergency attempt by Russia to prop up the rapidly declining currency. In a surprise move late Monday, Moscow's Central Bank dramatically raised interest rates to 17 percent from 10.5 percent. The move came after the Russian currency experienced its largest one-day decline since Russia's 1998 financial crisis. The ruble briefly rebounded Tuesday, before plummeting to an all-time low. By noon in Moscow, a dollar was...

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