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Slipping ruble punishing telecoms

  • Today's Russian interest rate cut has taken its toll on the long-suffering ruble -- and therefore on ruble-related telecom firms.
  • The ruble's made up a bit of ground from earlier, now at 70.12 vs. the dollar.
  • Mobile TeleSystems (NYSE:MBT) is down 2.8%; MiMES Rostelekom (OTCQX:ROSYY) down 4.2%; Turkcell (NYSE:TKC) down 1.8%.
  • The interest-rate cut to 15% today followed a hike to 17% last month and points to more volatility ahead for the currency and for firms in ruble-related markets.
  • Previously: Russia central bank cuts key rate (Jan. 30 2015)

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Mobile TeleSystems Public Joint Stock Company