Russia Begins Selling Reserves To Save Ruble

As expected earlier, the Russian finance ministry has begun selling its currency reserves to save ruble, which it argues is considerably undervalued, the government announced Wednesday. The latest move comes after the Bank of Russia, the country’s central bank, decided to increase its key interest rate to 17 percent, up from 10.5 percent, to boost ruble.…

©The Global Calcuttan
All Rights Reserved