| From Forbes.com: The Russian central bank raised rates it charges banks on Monday as it vouches to support the currency through starving the banking sector that was responsible for its decline.
The Russian currency enjoyed a small rally on Monday, at 40.70 against the euro-dollar basket against which it's measured, marking a 10 kopek gain from last Friday. This follows the central bank's decision to raise the repurchase rate on loans for banks by 100 basis points to 12.0%, the second hike since late January. Last week, the currency lost value, edging closer to the 41.00 ceiling at which the central bank had pledged to defend it. .... Full Article: Source
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