Ruble starts clawing back drastic losses; dollar, euro down in trading
The Russian ruble began to recover against the US dollar and euro early Wednesday, going some way to compensate for a 20 percent drop in previous day.
This is after the currency plunged in the first minutes after trading opened on Wednesday, when it lost3.91 rubles to 71.41 against the US dollar. At the same time the equity market rose 1.7 percent.
The Russian financial system is in turmoil with volatility high amid deregulation and uncertainty among traders.
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