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Russian central bank takes desperate stand to halt collapsing ruble and fierce inflation

https://www.yahoo.com/finance/news/russian-central-bank-takes-desperate-153347276.html

 

 

In a bid to stave off red-hot inflation, Russia's central bank halted all foreign currency purchases for the remainder of the year, while actively selling Chinese yuan, in hopes of propping up the ruble. The ruble—currently worth a fraction of a penny—hit lows on Wednesday not seen since the start of the Ukraine war.

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