Foreign Currency Mortgage Holders Protest Near Russian Central Bank

Feb. 09 2016 — 12:26

Foreign Currency Mortgage Holders Protest Near Russian Central Bank

Feb. 09 2016 — 12:26
Protesters block a road during a rally of foreign currency mortgage holders near the Central Bank headquarters in central Moscow, Russia, Feb. 8, 2016.

Foreign currency mortgage holders protested in front of Russia's Central Bank headquarters in central Moscow, RSN radio website reported Monday.

Approximately 150 protesters attended the demonstration, holding red balloons and singing chants, RSN reported.

The protesters blocked Neglinnaya Ulitsa shortly before they were dispersed by the police, the Dozhd television channel reported. Police detained four protesters — including the demonstration coordinator, Dozhd reported.

One of the detained protesters fainted and was taken to the hospital, RSN reported.

Hundreds of borrowers have protested in recent weeks demanding debt relief as the Russian currency reached record lows against the dollar, raising the cost of repayment.

Thousands of Russians took advantage of lower interest rates on dollar- and euro-denominated home loans, but have seen repayment costs spiral as the ruble halved in value over the past 18 months.

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