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. Last Updated: 07/27/2016

Ruble Drop Accelerates

MOSCOW () -- The ruble fell 30 points against the U.S. dollar and 33 points against the Deutsche mark Wednesday, closing at 3,368 rubles per dollar and 2,156 rubles per mark on the Moscow Interbank Currency Exchange, Interfax reported.

Igor Doronin, a senior analyst at the exchange, attributed the fall to "constant pressure for the devaluation of the ruble because inflation is still high and the situation with the budget is not clear."

Doronin estimated that the Central Bank had sold some $33 million to support the ruble Wednesday. Net trading volume was $63.67 million with initial demand for $63.92 million and supply of $30.78 million.