A man walks along the Boulevard Ring in downtown Moscow, Wednesday, Dec. 24, 2014, with a currency exchange office sign in a window. (AP/Alexander Zemlianichenko)
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Russia's central bank launched another initiative to shore up the ruble Wednesday, offering hard currency loans to help companies and banks service their debts.Stabilizing the ruble, which is one of the world's worst-performing currencies this year following the slide in oil prices and the sanctions imposed on Russia for its involvement in Ukraine, is a priority for Russia's monetary authorities.Russia's largest lender, Sberbank, admitted again that it faced a run last week when the ruble was in freefall and individuals fretted over the value of their deposits. Containing the ruble crisis is behind the Central Bank's latest measure to accept foreign currency debt obligations as collateral against the loans.
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