MOSCOW (AP) — The Russian ruble, battered by weak oil prices, on Monday fell to an all-time low against the euro and dropped to its lowest level in more than a year against the dollar.
The Central Bank set the official exchange rate at over 85 rubles to the euro on Monday. The national currency declined by 2 percent to 79.1 rubles to the dollar in Moscow, its lowest trading level since December 2014.
Oil, the mainstay of the Russian economy, recently plummeted to under $30 a barrel, a 13-year low. The ruble is also under pressure from economic sanctions that the …read more
Source: KXAN
