The bank said the move was to try to ease the rouble's recent fall in value. The rouble had lost 50% against the US dollar this year as falling oil prices and Western sanctions continue to weigh on the country's economy. Before the move, the dollar bought 67 roubles. The rate rise moved it up to 58 against the dollar, although it has since slipped back to 62.
INC News, 16/12/2014 - via BBC
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