NEWSWATCH: “Rouble’s revival gives Russia an unexpected headache” – AFP

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It was a step that seemed unimaginable a year ago: the Russian authorities stepping in to stop the country’s currency from getting too strong. … The finance ministry said Putin himself had decided that the surplus oil revenue would not be used for ‘additional spending’ but would go towards buying foreign currencies to bolster the country’s depleted reserve funds. … the Kremlin seems intent, at least for now, on shoring up the state coffers rather than loosening austerity ahead of presidential elections next year.

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