Men talk under a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow, on November 6, 2014. AFP PHOTO/DMITRY SEREBRYAKOV
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The ruble recovered Friday, paring heavy losses as investors anticipated possible action by the central bank to halt a slide that could destabilize Russia's financial system.By 14:35 GMT, the ruble was 0.5 percent stronger than the previous close at 46.60 against the dollar. It was up 0.3 percent against the euro and 0.4 percent stronger against a dollar-euro basket.The ruble barely reacted to the central bank statement, weakening slightly in the minutes after it was published. The central bank altered its interventions policy Wednesday to limit its support for the ruble by cutting the size of its interventions to $350 million a day.The ruble has taken a particularly heavy hit since the beginning of October, with the central bank spending around $30 billion to prop up the ailing currency, its largest monthly interventions in over five years.
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