Traders are claiming that the Russian central bank has stepped back into currency markets to halt the rouble’s slide as it continued to fall in early trading on Wednesday. Here’s the evidence — the rouble sudden reversed its losses in early trading to turn up on the day against the dollar: The central bank confirmed earlier rumours that it had intervened in currency markets on Monday. On Wednesday it confirmed that it had spent $700 million to defend the rouble over two days after the currency saw its worst falls against the dollar and the euro since the 1998 …read more
Source: Business Insider
