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News Link • Economy - International

Russia grapples with shocking fall of the ruble: 'What happened yesterday is a catastrophe

• AFP

The Russian currency crashed to unprecedented lows Tuesday trading at 80 rubles to the dollar and 100 to the euro, testing Vladimir Putin's ability to ride out both the economic storm and his clash with the West.

Moscow's midnight move to raise interest rates to 17 percent failed to arrest the collapse of the currency. To make matters worse, the White House announced that US President Barack Obama plans to approve tightening sanctions against Moscow....

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