Central Bank cap on intervention sends rouble diving

Central Bank cap: The Russian rouble plunged at the beginning of trading today as the Central Bank (CBR) announced it was going to cap the amount of foreign reserves it was prepared to spend defending the currency. On news that the CBR was only prepared to spend $350m of its currency reserves each day to shore it up, the rouble fell to a historic low of 44.98 to the dollar.  The Moscow Times