People walk past a sign advertising currency exchange rates in Moscow, Russia, Monday, Dec. 15, 2014. (AP Photo/Pavel Golovkin)
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The Russian ruble tumbled to new record lows Monday despite repeated interventions by the central bank to keep the national currency afloat.The slump came even though the central bank spent nearly $6 billion so far this month on market interventions to slow the ruble's slide.The bank made interventions every day last week, and Thursday decided to hike its key rate by one percentage point to 10.5 percent. Central bank chief Elvira Nabiullina said last week that the bank is prepared to spend up to $85 billion over next year to prop up the ruble if necessary.
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