In an effort to support the ruble as it fell toward 100 per dollar, its weakest level in 16 months, the Bank of Russia stated it will stop buying foreign currency on the domestic market for the remainder of 2023. The central bank stated in a statement released late on Wednesday that "the decision was made in order to reduce the volatility of financial markets."

Trade decline hit Ruble's value; Ruble near the 100 per dollar mark

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Trade decline hit Ruble's value; Ruble near the 100 per dollar mark