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Russian Central Bank Says Ruble's Recovery Over For Now

A cashier poses with Russian ruble banknotes taken from a cash register at a local grocery store in Stavropol, southern Russia. Eduard Korniyenko / Reuters

The ruble's recent firming trend has ended for now, the Russian Central Bank's first deputy governor, Ksenia Yudayeva, said on Wednesday.

"The strengthening of the ruble has finished. Now we observe stabilization," she said, adding that she was referring to the ruble moving higher in connection with recent sharp moves in the oil price.

Yudayeva also said that she did not think that recent volatility on the forex market was dangerous, predicting that it would calm by the summer.

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