Russian ruble tanks on talk of capital controls

Russian ruble tanks on talk of capital controls

30 September 2014, 15:58
Ronnie Mansolillo
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NEW YORK (MarketWatch) -- The U.S. dollar jumped versus the Russian ruble Tuesday after a news report said Russia's central bank is weighing whether to impose capital controls to halt money flowing out of the country. The dollar fetched 39.667 rubles in recent action, up 0.5%. The ruble also crossed the threshold of 44.4 rubles to a euro-U.S. dollar basket that the Russian central bank has said would prompt intervention, news reports said. According to Bloomberg, the central bank is considering capital controls that would be used only if net outflows rise significantly.
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