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U.S. sanctions slam Russian ruble, Turkey's lira tumbles

Business Standard India

NEW YORK (Reuters) - New U.S. sanctions against Moscow drove down Russia's ruble, while worries that Turkey was sliding into a full-blown economic crisis battered the lira on Thursday, but global equity markets largely shrugged off the turmoil to edge higher. The Russian ruble slid 1 percent after Washington said it would impose fresh sanctions because it had determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, which the Kremlin denies. The ruble slid to its lowest since late 2016, hitting 66.7099 rubles to the dollar , leaving it after a second day of declines more than 4 percent weaker than it had been late on Tuesday. Turkey's lira touched