International Business

Russian Ruble Plummets to Record Low: The ruble fell to 2,808 to the dollar, from 2,668 on Tuesday, as dollar purchases grew and the Central Bank refused to prop up the ruble. In the past month, the ruble has dropped 26.8% in value against the dollar. A free fall of the ruble could endanger Russia’s free-market reforms, scaring off foreign investors, further squeezing citizens who rely heavily on imported goods and increasing the risks of a recession. Wednesday’s 140-point drop was the third steep one-day dive in the past two weeks.