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Drumbeat: Ad Buzzaar
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Friday, September 18, 1998
Rouble slumps 14.73% to $
AGENCIES
MOSCOW, Sept 17: The rouble continued to fall sharply today, losing 14.73 per cent of its value to a central bank official rate of 14.6 to the dollar, Interfax news agency reported.The Russian currency was even weaker in interbank trade, where it averaged around 16 to the dollar in afternoon trade. The currency rallied last week as Russian banks provided artificial support for rouble to ensure that they benefited from a favourable rate for the settlement of futures contracts with foreigners on September 15. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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