The Russian ruble has fallen to 72.47 against the US dollar, its worst exchange rate since December 17 last year. Fluctuations in the exchange rate are connected with further falling oil prices, RT reports.
The Russian ruble has fallen to 72.47 against the US dollar, its worst exchange rate since December 17 last year. Fluctuations in the exchange rate are connected with further falling oil prices, RT reports.
The euro was trading at 79.55, which is its highest level against the ruble since August 26.
During December 28 trading at the Intercontinental Exchange (ICE), Brent crude prices fell to $37.03, which is 2.2 percent below the closing level of the previous trading session.
According to Russian Deputy Finance Minister Aleksey Moiseev ruble is always weak in the end of the year.
TASS reminds the ruble is depreciating after oil: the cost of a futures contract of Brent crude with the delivery in February on London Stock Exchange ICE fell 1.74% to 37.23 dollars per barrel on Monday. "Oil is again under a discreet pressure following Iran declaration that it is ready to increase supplies by 0.5 mln barrels per day after the sanctions against it are lifted. This is no longer a news but it turned out to be enough for such a sensitive market,"- Dmitry Savchenko, an oil analyst with Nordea Bank said.
According to Economic Development Minister Aleksey Ulyukaev, $40 oil doesn’t threaten stability in the economy, but won’t allow GDP, production and consumer demand to turn positive next year.
