Dollar euro basket Russian ruble posts biggest jump on dollar-euro basket in two years

MOSCOW -- The ruble strengthened a record 1.9% against a euro-dollar basket of currencies, boosted by liquidity constraints and, at least for now, turning its back on a period of frequent daily devaluations.

Central-bank efforts to draw a line under the ruble's weakening appear to be working -- the ruble closed at 39.77 to the basket Wednesday, up 1.9%, or 77 kopecks, and moving further away from the 41 boundary of its trading band.

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