Russian ruble falls to historic lows, while pressure increases on Putin

December 16, 2014 2:52 PM

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Russian ruble falls to historic lows, while pressure increases on Putin

Dec. 16, 2014: Signs advertising currencies light next to the exchange office in Moscow, Russia. After a massive overnight rate hike by Russia's Central Bank, the ruble staged a two-hour rally Tuesday morning before rolling back to new historic lows. (AP)

MOSCOW – The Russian ruble faced intense selling pressure Tuesday, falling at one stage by a whopping 20 percent to historic lows despite a massive pre-dawn interest rate hike from the country's central bank.

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