The Russian ruble depreciated against the U.S. dollar during European trading on Monday, as oil prices fell amid rising concerns about the outlook for energy demand and excess supply in the market.

Oil prices fell on concerns that the rapid spread of the China coronavirus outbreak internationally will cause a significant reduction in oil demand.

The Russian ruble declined to near a 6-week low of 62.74 against the greenback from Friday's closing value of 62.24. If the ruble extends decline, 64.00 is likely seen as its next support level.

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