Russia�s ruble hits all-time low against the dollar

AFP, MOSCOW: The ruble hit a historic low yesterday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014.
After a day of relative calm, the ruble resumed its downward spiral, breaking through the previous record low it hit on December 16, 2014, as oil prices, key to Russia’s economy, test 12-year lows. The ruble was also trading at 87.6 against the euro as Asian and European markets suffered another rout.
Gas and oil account for more than a half of the Russian budget revenues.
“The market will be generally driven by global economic sentiment, which does not exactly look hopeful at the moment,” Alfa Bank said in a note to clients yesterday.

Russia�s ruble hits all-time low against the dollar

AFP, MOSCOW: The ruble hit a historic low yesterday as the dollar climbed past the 80.1 rubles level for the first time, exceeding the levels seen during the shock plunge of the Russian currency in December 2014. After a day of relative calm, the ruble resumed its downward spiral, breaking through the previous record low it hit on December 16, 2014, as oil prices, key to Russias economy, test 12-year lows. The ruble was also trading at 87.6 against the euro as Asian and European markets suffered another rout. Gas and oil account for more than a half of the Russian budget revenues. The market will be generally driven by global economic sentiment, which does not exactly look hopeful at the moment, Alfa Bank said in a note to clients yesterday.