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Monday , August 21 2017
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Russia central bank raises interest rate by 650 basis points to 17%

BRASILIA: The ruble is falling again against the dollar after opening 8% stronger on Tuesday after Russia’s central bank raised rates by 650 basis points to 17% at 1am.

In a worrying sign for the Bank of Russia, the currency remains volatile quickly reversing the morning’s gains and snapping back to over 64 roubles to the dollar at the time of writing.