Ruble Drops to Record as Russia Sanctions Fuel Dollar Shortage

September 16, 2014 2:16 PM

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The ruble fell to a record for a fourth day as sanctions over the Ukraine crisis exacerbated a foreign-currency shortage in Russia, while the government canceled its ninth straight debt sale. Stocks advanced.

The exchange rate tumbled 0.9 percent to 43.8496 against the central bank’s dollar-euro basket at 5:19 p.m. in Moscow, depreciating for a seventh day to a record low. That’s within 55 kopeks of 44.40, the level that would trigger the central bank to intervene. The Micex Index climbed 1.1 percent, le...

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