Rouble hits 7-year peak

MOSCOW, June 28 (Reuters): The rouble hit a more than a seven-year high on Tuesday as capital controls and month-end taxes offset the negative impact of Western statements that Russia has defaulted on its international bonds for the first time in more than a century.

The White House and Moody's credit agency said Russia has defaulted as sanctions have effectively cut the country off from the global financial system.

But the Kremlin, which has money to make payments from oil and gas revenues, has rejected the claims and accused the West of driving it into an artificial default.