Russian Ruble Slides To Record Low Against U.S. Dollar
December 12 2014 - 3:18AM
RTTF2
The Russian ruble weakened against the U.S. dollar ahead of
European deals on Friday as oil prices fell.
The crude oil price fell to a fresh 5-year low of $59.95 on
Thursday. Oil's slump reflected supply glut fears amid concerns
about sagging global growth.
The dollar's strength in the wake of some upbeat U.S. data on
jobless claims and retail sales released yesterday also weighed on
the commodity.
Organization of Petroleum Exporting Countries slashing its
global demand outlook next year also pushed oil prices lower.
The Central bank of Russia's interest rate hike to 10.5 percent
on Thursday failed to disrupt the currency fall.
Against the greenback, the ruble fell to a new record low of
56.93 from an early high of 55.87. At yesterday's close, the ruble
was trading at 56.23 against the greenback.
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