MOSCOW (AP) — The Russian ruble slid to a record low against the dollar Wednesday under pressure from the low oil price.
The ruble traded above 81.8 to the dollar in Moscow on Wednesday evening, down by around four percent. That beat the mark of 80.1 set when the currency crashed in value in December 2014 before stabilizing.
Russia’s economy and government revenues are suffering due to the country’s dependence on oil, which has traded at 12-year lows in recent weeks because of a supply glut and the return of Iran to world markets.
The ruble had come close to 80 on Monday …read more
Source: KXAN
