Rouble rebounds as Russia sells foreign exchange

Analysts fear effect will be temporary after a wild ride for the rouble forces Apple to halt Russian sales

The rouble
(Image credit: Alexander Nemenov/Getty)

Russian attempts to stabilise the rouble have brought some relief after a turbulent 24 hours in which the currency hit record lows against the dollar.

The finance ministry announced this morning that it would start selling off foreign currency reserves in order to boost the value of the rouble. The immediate effect was a 5 per cent rise against the dollar, but some of those early gains have since slipped away.

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