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Ruble Tumbles to Record Low Amid Speculation Russia Intervened

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The ruble plunged to a record for a third day, prompting speculation Russia’s central bank intervened to stem losses triggered by tumbling oil prices.

The currency weakened as much as 6.6 percent to 53.95, the most since at least 2003, before trading 3.6 percent lower at 51.8905 as of 6:22 p.m. in Moscow. The pattern of the recovery suggests the Bank of Russia may have been selling foreign currency, Sergey Romanchuk, the head of foreign exchange trading at AKB Metallinvestbank OAO, said in e-mailed comments.