Russian Central Bank acts to hold ruble steady

The ruble held steady on Friday March 21 as the Central Bank of teh Russian Federation stuck to its promise to minimise exchange rate volatility in a market nervous at the start of hostilities in the Gulf.

Source: The Moscow Times

In the official early trade, used to set the official ruble next-day rate, the currency traded in a narrow band at a weighted average of 31.381 to the dollar. It traded at 31.384 against the dollar Thursday.

"The pressure now is on the dollar rather than on the ruble a

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