Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.
Elvira Nabiullina
With Russia's economy battered by economic sanctions and plunging oil prices, President Vladimir Putin has allowed the central bank to administer strong medicine, sharply raising interest rates even as it freed the rouble to float.
The Russian people are behaving "entirely reasonably" in their response to the falling rouble, central bank governor Elvira Nabiullina said in a television interview broadcast on Saturday.
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
The shutdown of Russian bank Master Bank was the central bank's most high-profile move yet under the leadership of Russia's first female governor Elvira Nabiullina.
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- Walgreens to Open a New Pharmacy Offering Cell and Gene Therapies to Patients With Chronic Diseases Like Cancer
- How to Apply for Social Security Spousal Benefits; Here's How You May Boost Your Money!
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- Tesla Shareholder Asks Judge to Prevent Elon Musk From Moving Pay Fight to Texas to Evade Delaware Ruling
- 3.6 Million Medicare Beneficiaries Could Now Get Wegovy Coverage; Here's How!