Home Russia raises the interest rate to 7.75%, USD/RUB dips

Russia raises the interest rate to 7.75%, USD/RUB dips

Updated: 14 Dec. 2018 | 11:42

Russia’s central bank raised the interest rate from 7.50% to 7.75%. Markets had not anticipated the Moscow-based institution led by Governor Elvira Nabiullina to change rates.

USD/RUB trades a tad lower after the announcement, at around 66.30.

The Russian economy suffers from sanctions and falling oil prices.

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