A woman walks under a board listing foreign currency rates against the Russian ruble, outside an exchange office in central Moscow, on October 13, 2014. AFP PHOTO/KIRILL KUDRYAVTSEV
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Russian currency-market interventions that have topped $13 billion are failing to stem the ruble's slide to unprecedented lows, as oil trades near the weakest in four years. The Bank of Russia raised its dollar-euro basket band by 30 kopeks to 46.25 Thursday, as falling crude and concern that global growth will slow weakened the ruble 1 percent. The currency depreciated 0.1 percent to 40.9140 per dollar in Moscow Friday.It repeats the process each time the currency falls by five kopeks.
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