Ruble Drops to August Low as Inflation Risk Postpones Rate Cut

Updated on
  • `Illogical to cut now' amid consumer-price risk: Citigroup
  • Currency's next move `depends on oil,' RenCap analyst says

The ruble slumped to the lowest since August as oil’s slide below $40 per barrel prompted the central bank to keep interest rates on hold to avoid stoking inflation.

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