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Russia Hikes Interest Rate to 17%

MONEY TROUBLE

Attempting to stabilize rouble.

Western sanctions and falling oil prices are taking a toll on the Russian currency. To halt the rouble's descending value against the dollar—which has fallen 45 percent this year—the Russian central bank announced it is raising its key interest rate from 10.5 percent to 17 percent. In the past two months, the rate has risen from eight percent.

Read it at BBC