Russian ruble exchange rate is undervalued by almost 70%.One dollar should cost 23,12 rubles, not 75. This is the conclusion of the Economist, based on "big Mac index".

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.

Onexim has bought the 20% of the Brooklyn Nets and 55% of Barclays Center operating rights it did not already own from Nets Sports & Entertainment for $1.7 billion. Onexim is controlled by Russian billionaire Mikhail Prokhorov and Nets Sports & Entertainment is a subsidiary of publicly traded Forest City Enterprises, run by Bruce Ratner, Forbes reported.

2016 will only bring more disappointment for many countries, including Russia, say economists surveyed by Bloomberg.

The GBP/USD is set to move in the holiday season trading below the 1.49 level having gained in the Asian session as traders bought up the underpriced currency.

The GBP/USD gained 50 points to trade at 1.4870 coming off its lows of the week after a mix of top level data today. The U.K. economy grew less than previously thought. Britain's economy posted 0.4 percent growth in the third quarter, down from an earlier estimate of 0.5 percent, the Office for National Statistics said on Wednesday.

Alexei Kudrin, who was Russia's finance minister from 2000 to 2011, is in talks with Vladimir Putin and other top officials about returning to a senior post to help deal with worsening economic troubles, according to three people familiar with the discussions, Bloomberg reports.

Chief Executive Officer of Russia’s top lender Sberbank expects the trend of weakening ruble to persist in 2016, he said in an interview aired by the Rossiya-24 TV news channel on December 25.

The First Russian Internet Economy Forum opened in Moscow on December, 21. The experts, from major Russian companies and related agencies, created a roadmap of ten main directions for the development of the Internet and other electronic services.

The only interest in the markets remain focused on oil prices which recovered sharply ahead of the Christmas holiday only to give back gains as traders returned afterwards.

The ruble is likely to continue its decline against major world currencies and especially the dollar, updating the record of last year in currency trading. 90 rubles per dollar – is a Bloomberg forecast that was given by analysts.

Brent crude slumped to the lowest level since 2004 amid speculation suppliers from the Middle East to the U.S. will exacerbate a record glut as they continue fighting for market share, Bloomberg reports: