“The
Russian national currency has suffered its worst one-day fall since a
financial crisis in 1998.Russia’s ruble recorded its worst daily
fall since that time on Monday, as crude oil prices dropped even
further.”
“On
Monday, Brent crude hit $67.53 per barrel, the lowest since October
2009. At one point in the day, the ruble slumped by over 8 percent
landing at over 53 rubles per each US dollar. At the end of the main
trading session in Moscow, it picked itself up and stopped at 52
rubles against the dollar and 56 per euro.”
“From
the beginning of the year, the ruble has suffered around 40 percent
devaluation against its US counterpart.”
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