Elvira Nabiullina, chairman of Russia’s central bank, speaks during a session at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, on Friday, May 23, 2014. SPIEF is an annual international conference dedicated to economic and business issues which takes place at the Lenexpo exhibition center May 22-24. Photographer: Chris Ratcliffe/Bloomberg *** Local Caption *** Elvira Nabiullina Russian currency markets were in turmoil on Tuesday morning after Russia’s central bank sharply raised interest rates to 17 per cent in an emergency midnight move. The Russian currency initially rallied more than 8 per cent to 58.40 against the dollar following the central bank’s dramatic rate increase of 6.5 percentage points, reversing more than half of its 10 per cent drop on Monday, its worst intraday drop since the 1998 financial crisis. But the gains were short lived, with the currency up just 1.8 per cent at 64.77 as […]