Russia's Central Bank may have started to intervene on the foreign exchange market to curb ruble losses, three traders said Monday.
"It may have been the Central Bank," a trader at a Western bank said. The Central Bank declined to comment.
The ruble looked set for its steepest one-day fall since the Russian financial crisis of 1998 on Monday, plunging more than 6 percent against the dollar before recovering to losses of around 4 percent.
