icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
6 Jan, 2016 20:34

Russian ruble sinks to lowest since 2014

Russian ruble sinks to lowest since 2014

A drop in international oil prices saw the Russian currency falling to over 75 rubles per dollar, which is the lowest rate since December 2014.

The maximum rate reached 75.10 rubles per US dollar on the Moscow Stock Exchange on Wednesday.

The Russian currency managed to bounce back a bit by the end of the session, closing at 74.872, which is still 2.21 percent more than the Tuesday’s rate.

The euro also rose by half a ruble, reaching the mark of 80.29 rubles.

Brent oil prices, a benchmark for Russia's main export, lost 4.9 percent to reach $34.65 per barrel – their lowest level since 2004.

Experts explain the oil market situation saying there are expectations for the growth of US oil reserves, which are combined with reports about a weakening Chinese economy.