Russia Bars Purchases of Dollars

“As it scrambles to keep the ruble’s value from plummeting further, Russia’s central bank today announced that it is prohibiting citizens from using rubles to buy dollars and other hard currencies for the next six months,” the Washington Post reports.

“The measures are designed to prevent Russians from making a run for dollars as the ruble plummets to fresh lows in the wake of Western economic sanctions, which have limited the central bank’s access to its hard currency reserves.”