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Russian ruble falls after central bank chief says most currency controls should be scrapped
The Russian ruble fell Thursday after the Kremlin's central bank chief suggested stripping away most capital controls. Speaking at an economic conference in St. Petersburg, Governor Elvira Nabiullina also said Russians should be able to have bank accounts that hold US dollars or other foreign currencies. "We have had a layering of currency restrictions. My opinion is that they should be taken down, most of them anyway," she said, according to Reuters. The ruble dropped about 4.5% Thursday, with the exchange rate hitting 55.38 to the dollar. Nabiullina's comments come as the ruble pulled of a stark ... (full story)
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