Russia in currency-swap clampdown

With rouble under increasing strain, the Central Bank of Russia has announced stringent new limits on the maximum amount of currency swaps that may be traded each day.

The initiatives, announced on Monday, led to the biggest single-day increase in the value of the rouble against the dollar on Tuesday.

The central bank will announce limits on the daily amount of allowed currency swaps at 10:00 each day. On Tuesday, the limited was set at 50 billion roubles ($1.9 billion).

The Russian authorities

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