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Rouble bounces back

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Rouble bounces back

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Russia’s currency rose after the country’s central bank stepped into the market and sold foreign reserves to brake the rouble’s fall. The Russians have not confirmed how much they sold but analysts say it was around three billion euros worth on Thursday and maybe more on Friday.

The central bank’s governor admitted that investors have been pulling their capital out of Russia since the start of the war in Georgia. Investors were also spooked by disputes over BP’s Russian joint venture TNK-BP and a government attack on coal miner Mechel.