Ruble rebounds thanks to high Russian interest rates

April 21, 2015 3:01 PM

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MOSCOW, RUSSIA — Russia's ruble has rebounded by more than 30% from its record low against the U.S. dollar last December, thanks to high interest rates and lower geopolitical tensions.

The ruble had plummeted to 70 to the dollar amid falling prices for oil — Russia's top export — and new Western sanctions over Moscow's support for separatists in neighboring Ukraine. Now, it takes only 54 rubles to equal a dollar, evidence that aggressive moves by Russia's Central Bank to defend th...

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