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Russia's Ruble Reaches New Historic Low as EU Follows Through on Sanctions

A board displaying currency exchange rates is reflected in a shop window in central Moscow, Aug. 29, 2014. Sergei Karpukhin

The Russian ruble reached a new historic low against the dollar on Thursday, shortly after British Prime Minister David Cameron said the European Union would introduce new sanctions against Russia on Friday.

At 3.08 p.m. GMT the ruble was trading at 37.54, slightly weaker than its previous historic low of 37.51 hit on Sept 1.

Correction: Due to an editing error, an earlier version of this article said the ruble was trading at 31.54 at 3.08 p.m.

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