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Russian Ruble Hits Record Low Vs Dollar

Despite hiking interest rates in an emergency midnight move, Russia's central bank has still failed to halt the ruble's collapse. The currency fell more than 10% yesterday, its worst intraday drop against the dollar since the 1998 financial crisis. Erasing earlier gains, the ruble last traded at 69.48 rubles per dollar, compared to 65.50 before the announcement.

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