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Informal Capital Controls Bolster Russian Ruble

The Russian ruble hit its highest levels in two weeks on Tuesday, shored up by informal capital control measures designed to head off a repeat of the galloping inflation and mass protests that marked Russia's 1998 financial crisis. The government put pressure on state-owned exporters on Tuesday to sell dollars while officials and banking sources said the central bank had installed supervisors at the currency trading desks of top state banks. Shortly after the market opening, the...

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