The Russian rouble has sank to the lowest point in its history, above 50 Roubles to the dollar.
It’s down 5.27% against the US currency on Monday alone. The dollar is about 50% stronger against the rouble than it was at the start of 2014.
The fall in oil prices has dramatically weakened the Russian currency, which had been much more stable over the previous three years.
Brent crude is down to just $68, and the other major benchmark of oil prices, West Texas Intermediate (WTI), is down to just $65, a five-and-a-half-year low.
People walk past a display with currency exchange rates in central Moscow, Russia, Monday, Dec. 1, 2014. Russia’s ruble hit a new all-time low on Monday, dropping more than 3 percent as declining oil prices and the conflict in eastern Ukraine are weighing in on the Russian economy. The Russian currency traded 52 rubles against the dollar at the opening on Monday after shedding 15 percent in the previous week. The ruble was also down 2 percent against the euro. (AP Photo/Alexander Zemlianichenko)
Read more at:
http://www.daytondailynews.com/ap/ap/top-news/russian-ruble-takes-a-nosedive-as-oil-price-drops/pCTYP9/
'
