People walk past money exchange offices in Moscow, Russia, Monday, Oct. 6, 2014.(AP Photo/Alexander Zemlianichenko)
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Russia's central bank stepped up the pace of currency interventions as sanctions and an oil-price slump spur bets that policymakers will raise interest rates.TheThat's almost as much as the previous three days combined and the most for a single day since the $4.41 billion intervention that preceded the Crimea referendum to join Russia in March. Wagers for interest-rate increases soared to a six-year high as Brent oil's slide to four-year lows sent the ruble sliding further past 40 per dollar.The central bank releases intervention details with a two-day lag.The bank said it moved the upper band of its target dollar-euro basket by 15 kopeks to 45 Thursday.At the same time, the latest interventions are so far "quite small" compared with March, when the central bank spent more than $25 billion, he said.
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