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. Last Updated: 07/27/2016

Ruble Wins 5 Points

MOSCOW (MT) - The ruble won five points against the dollar during trading Thursday on the Moscow Interbank Currency Exchange, closing at 1, 230. Trading volume reached a new record of $157. 36 million, with 70 banks participating.

Experts attributed the high trading volume to speculation by financial institutions on the dollar's exchange rate, which has risen considerably from its Nov. 11 close of 1, 176, Interfax reported. Interfax said that increasing rates for dollars at Russia's currency exchanges have prompted Russians to buy the U. S. bank notes as a hedge against inflation.