Russia acts to halt collapse in ruble

Russia acts to halt collapse in ruble

Russia acts to halt collapse in ruble Russia’s government is trying to stem the fall in the nation’s currency, which fell the most of all developing nations Monday. The country’s central bank said that corporate debt repayments would not overwhelm the foreign exchange market with excessive demand. Bloomberg reports that companies will have to pay up to $35 billion of the $61 billion that falls due in the fourth quarter. The ruble is under pressure from falling commodity prices and the government and bank are desperate to avoid another collapse in the currency like that of last year.