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Ruble Crashes To Historic Lows As Oil Prices Plunge

The Russian ruble fell to a value of 80.179 opposite a U.S. dollar during afternoon trade on a Moscow Exchange, dragged to a record low by a 3.2 percent tumble in tellurian oil prices on Wednesday, a Interfax news group reported.

On Wednesday, futures for Brent wanton oil — a tellurian cost benchmark — continued a downward thrust to reduction than $28 dollars, a TASS news group reported. The dump also gathering a Russian currency’s value opposite a Euro to 88.14 rubles

The prior record low for a ruble came on Dec 16, 2014, when a banking fell to 80.1 to a dollar, according to Interfax.

Oil prices have been usually dwindling given a summer of 2014, though a lifting of general sanctions opposite oil-producing Iran on Jan. 16 has accelerated a fall. On Monday, Iran announced it will boost oil outlay by 500,000 barrels a day, Reuters reported.

Article source: http://www.themoscowtimes.com/article/556409.html