Ruble Sinks to Record as Auction Axed After Recession Warning
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The ruble slumped to a record for a fourth day and the government scrapped a planned bond sale as crude fell and the Economy Ministry said Russia may enter its first recession since 2009 next year.
The currency plunged 5.4 percent to 53.9795 against the dollar by 6:54 p.m. in Moscow after weakening to as low as 54.0155 earlier. The three month MosPrime interbank rate climbed one basis point to 12.75 percent, the highest since May 2009.