Sanctions against Russia lead to the prospect of rising prices and less travel, a rush on banks and ATMs.
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Ruble plummets as sanctions bite, sending Russians to banksOrdinary Russians faced the prospect of higher prices and crimped foreign travel as Western sanctions over the invasion of Ukraine sent the ruble plummeting, leading uneasy people to line up at banks and ATMs on Monday in a country that has seen more than one currency disaster in the post-Soviet era.
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Russians line up at banks as ruble plunges, interest rates jump and sanctions biteRussia’s central bank has sharply raised its key interest rate to 20% from 9.5% in an attempt to shore up the plummeting ruble and prevent a run on banks.
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Ruble plummets as sanctions bite, sending Russians to banksThe Russian currency plunged about 30% against the U.S. dollar after Western nations announced moves to block some Russian banks from the SWIFT international payment system and to restrict Russia’s use of its massive foreign currency reserves.
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Ruble plummets as sanctions bite, sending Russians to banksRussians wary that sanctions would deal a crippling blow to the economy have been flocking to banks and ATMs for days, with reports in social media of long lines and machines running out.
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Ruble plummets as sanctions bite, sending Russians to banksOrdinary Russians faced the prospect of higher prices and crimped foreign travel as Western sanctions over the invasion of Ukraine sent the ruble plummeting, leading uneasy people to line up at banks and ATMs.
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Russian central bank lifts interest rates to 20% as ruble plunges over Western sanctionsThe Central Bank of Russia on Monday hiked interest rates to 20%, as the country faces increased global sanctions over the invasion of Ukraine.
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