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Russian ruble 9% higher against dollar after central bank lifts up rates by 650bps

Russian ruble 9% higher against dollar after central bank lifts up rates by 650bps

LONDON: The Russian ruble firmed faster on Tuesday after the central bank increased its key lending rate overnight by 650 basis points.
At 0702 GMT, the ruble was up 9 percent against the dollar at 58.61 after the central bank raised its rate to 17 percent following the ruble’s sharpest decline in 15 years on Monday.
The ruble was 7.3 percent stronger versus the euro at 73.10.