Russian 2 ruble 5% NOSEDIVE ON FOREIGN CURRENCY MARKET
By Tuesday afternoon the dollar had risen to 77.25 rubles, up 12.80 rubles from Monday's close, and the euro was 97. Earlier in the day's trading the dollar jumped as high as 80.10 rubles, and the euro to a high of 100.74.
The Central Bank has not yet taken any attempts to intervene.
Earlier in the day, the Central Bank of the Russian Federation increased its key interest rate from 10.5 to 17 percent effective immediately in an attempt to limit substantially increased ruble depreciation
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