Russian Ruble Drops 17% Amid Falling Exports, Rumored Intervention

The Russian ruble extended a recent slump Thursday, declining 17% against the U.S. dollar in 48 hours to reach its lowest level since late May.
The ruble hit 64.5 against the greenback during morning trading on the Moscow Exchange as the Russian authorities apparently intervened in currency markets to stop the ruble from strengthening and energy exports to Europe declined.






