Russia Orders Currency Sale IBD news Posted December 24, 2014, 07:31 PM ET
The ruble hit a 2-week high after Russian officials ordered major state-run companies such as Gazprom (OTCPK:OGZPY) and Rosneft to sell foreign currency reserves. The ruble gained up to 5.5% against the dollar but is still down more than 40% this year because of Western sanctions over the Ukraine conflict and falling oil prices. Standard & Poor's said that it's considering cutting Russia's debt rating.