Ruble rallies 9 pct following overnight Central Bank rate hike

December 16, 2014 6:30 AM

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Ruble rallies 9 pct following overnight Central Bank rate hike

Signs advertising currencies light next to the exchange office in Moscow, Russia, Monday, Dec. 15, 2014. The price of crude oil continued to drop Monday, and Russia's ruble plunged to a record low against the dollar. The ruble crashed through 60 to the dollar, trading at 60.33 by early afternoon.(AP Photo/Pavel Golovkin) (The Associated Press)

MOSCOW – A massive overnight rate hike by Russia's Central Bank has pushed the ruble 9 percent higher in early trading.

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