The Russian ruble struck a new record low on Wednesday as fresh falls in world oil prices deepened investor worries about Russia’s contracting, commodity-dependent economy.
The ruble was trading down 4.6 percent at 82.16 to the dollar at 1715 GMT after earlier reaching a historic low of 82.29 earlier in the session. It was 4.6 percent lower versus the euro at 89.66.
The previous all-time low was 80.10 rubles per dollar, reached in December 2014 when Russia was in the grips of a financial crisis exacerbated by Western sanctions over the Ukraine crisis.
Analysts said the ruble was likely to remain on the …read more
Source: Voice of America
