Backing The Ruble

For the first time since it allowed the ruble to float in 1992, Russia is pledging to support the much battered currency. The government says it will keep the ruble in a band of 4,300 to 4,900 to the dollar until Oct.1. The currency now trades for about 4,500 rubles per dollar.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.