Russian Reserves Plunge $3 Billion in Week on Support for Ruble
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Russia’s international reserves tumbled $3 billion last week, the biggest drop in four weeks, as the central bank sold foreign currency to stem the ruble’s decline to a record.
The value of the stockpile, the second-biggest in Europe after Switzerland’s, fell to $451.7 billion in the seven days through Oct. 10 after dropping $2.1 billion a week earlier, the central bank said on its website today.