The Russian ruble is falling under the pressure of cheaper oil, reviving concerns over the country’s economic outlook, particularly the perniciously high inflation rate.
The ruble was down 0.9 percent in Moscow trading on Thursday, at 59.2 rubles against the dollar.
The decline comes a day after the Russian central bank halted daily purchases of foreign currency in an attempt to stop a week-long slide in the national currency. The ruble on Tuesday hit 60 rubles to the dollar, its lowest point in more than four months.
Slump in oil prices
The currency took a battering in 2014 because of a slump …read more
Source: Voice of America
