Russian Ruble Weakens To 4-year Low Against U.S. Dollar
March 09 2020 - 3:27AM
RTTF2
The Russian Ruble depreciated against the U.S. dollar in the
European session on Monday, as oil prices collapsed after Russia
rejected deeper oil production cuts proposed by Saudi Arabia at the
talks in Vienna.
Saudi launched an all-out oil price war by cutting its official
oil prices and pledging to ramp up production following the
breakdown in talks between OPEC and Russia.
The spread of virus sparked fears over a worldwide
recession.
The Russian Ruble fell to a 4-year low of 75.47 versus the
greenback, compared to Friday's closing value of 68.55. Next key
support for the Russian currency is seen around the 80.00
level.
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