Russian Ruble Plunges To Historic Low Against U.S. Dollar
January 21 2016 - 12:59AM
RTTF2
The Russian Ruble continued its free-fall against the U.S.
dollar in European deals on Thursday, as the recent steep decline
in oil prices triggered worries about economic growth of the
world's biggest energy exporter.
Oil prices hit a new 12-year low of $27.6 per barrel on
Wednesday, as Iran is set to ramp up production after years of
sanctions.
The Russian Ruble breached the key 85 mark, reaching an all-time
low of 85.9493 against the greenback. This is down by almost 5.7
percent from Wednesday's closing value of 81.0134.
The Russian Central Bank chief on Wednesday told that the ruble
is close to its fundamental level, downplaying the necessity of
intervention in forex markets. The currency has fallen to record
low of 82.4552 a dollar on Wednesday.
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